Although Millennials still make up the majority of current homebuyers at 38%, the following generation is quickly approaching homeownership. This intriguing cohort known as Generation Z has members now turning 24, and a majority of them are expecting to buy their first home in the next five years. While they face the challenge of the current market and the long-term effects of the pandemic, they remain optimistic about the future.
Boasting both similarities and differences from their Millennial counterparts, Gen Zers have their unique views on homeownership. Understanding this specific cohort’s characteristics will help you learn how to connect with them as they transition from renters to homeowners.
Check out this insightful infographic from Realtor.com that further explains other Gen Z preferences.