If the worldwide COVID-19 pandemic and related financial fallout have you thinking about selling or renting a property in the coming months, it helps to get up to date on relevant real estate trends. In particular, be aware that the younger millennial generation is having a significant impact on real estate. Many people don’t realize
Thinking of Selling or Renting Your Home? It’s Time to Learn about the Millennial Market
May 27, 2020 by
Young professionals drive growth in new home market
May 8, 2020 by
New home sales have reportedly doubled in the past couple of weeks, with millennials aged 31 to 40 driving up demand, according to new data from John Burns Real Estate Consulting. The data shows that most new home buyers are couples and individuals who’ve been looking to buy real estate for some time, and are
Millennials way behind baby boomers when it comes to homeownership
February 6, 2020 by
Millennials own far less real estate than their predecessors, and it means an entire generation could have lower lifetime wealth, experts say. Data from the Federal Reserve shows that when baby boomers reached their median buying age of 35 in 1990, they owned around one third of all U.S. homes, in terms of overall value.
Gen Z & millennials face entry-level housing shortage
January 28, 2020 by
With the oldest members of Generation Z finally entering their homebuying years, many of them are facing tough competition from older millennials in a market struggling with a serious shortage of entry-level homes for sale. “Gen Z is entering the housing market under the radar, but at a projected 65 million strong, they are going
Zillow says more Gen Zers than millennials will become homeowners
December 19, 2019 by
The oldest Millennials, who will turn 40 in 2020, have lived through a turbulent decade of housing marked first by the initial recovery from the Great Recession, then the extraordinary home value growth of recent years. Due in large part to a variety of affordability challenges delaying all sorts of major life milestones, the homeownership
Millennials say they’re worried they’ll never become homeowners
November 20, 2019 by
A significant number of millennials report feeling trapped as renters, saying they’re unable to save enough money to become homeowners, according to a new study from Apartment List. In its 2019 Millennials & Homeownership Report, which analyzes attitudes, expectations and actions of 10,000 millennial renters in the U.S., Apartment List notes that the vast majority
Report: Younger generations make bigger sacrifices to become homeowners
October 25, 2019 by
Home value growth is slowing compared to recent years, but that hasn’t made affording one any easier, especially for younger generations. A majority of home buyers (55%) make some sort of financial sacrifice, like cutting their entertainment budget or reducing their savings, in order to buy a home, according to the 2019 Zillow Group Consumer
Young adults flee big cities for small town life
October 17, 2019 by
Young adults are increasingly leaving bigger cities behind and setting up home in smaller towns, according to an analysis of data from the U.S. Census Bureau. The Wall Street Journal reports that an average of 30,000 people aged between 25 and 29 have departed from big cities each year since 2014. In addition, smaller cities
Millennials move home more often than older generations
October 8, 2019 by
Millennials are moving more often and living in their homes for a shorter period than previous generations. The share of young adults who have lived in their current home for less than two years is nearly 12 percentage points higher than in 1960, according to a new Zillow analysis. Younger adults have always lived in
