Working With Younger Buyers

Quick Takeaways

Millennials, born between 1981 and 1996, are currently in their late 20s to early 40s. The term, which was for a time synonymous with young and entitled, faces a reckoning – the average millennial is now a parent, a homeowner, and getting close to middle age. Millennials are having less children, and having them later in life, than previous generations.

Home ownership amongst Gen Z and Millennials is growing, though many feel that, given the current market and lack of inventory, they may never achieve the dream of owning a home. For those who have already purchased a home, a large amount of them would not have been able to afford the down payment without the help of their parents.

When working with younger buyers, remember that modes of communication may vary, even within generations. Younger Gen Z buyers and sellers may prefer or responding faster to text messages instead of email. Right now, it is important to remind buyers that interest rates are not forever.

Given the state of housing inventory and market, both Millennials and members of Generation Z are not under any pretenses that they will find a perfect, forever home. They are looking for homes that they can afford, and are prioritizing walkable areas, move-in ready homes and homes with smart technology.

See References for more information.