We have often heard it said that the younger generation doesn’t save, spends too much money, only cares for themselves, etc. That is pop culture and how the media portrays our younger stakeholders. In reality, the truth is very different.

First, let’s start by defining the generations.
1. Baby Boomers: 1946-1964
2. Generation X: 1965-1976
3. Millennials/Y: 1977-1995
4. Generation Z: 1996-2015

The study I will be referencing focused on over 2000 people who were thinking of buying/selling in the next year or had bought a home in the last year. and asked them how they prefer to buy a home, the role of the real estate agent, and the pandemic effect  Here are some of the revealing things the study uncovered.

1. New homeowners and shoppers have a promising financial outlook coming out of COVID
2. Significant gender and generational differences exist when it comes to buying/selling, priorities and unmet needs
3. New homeowners feel comfortable conducting all types of interactions with their real estate agent totally online.
4. 73 percent of new homeowners and shoppers say owning a home is more important to them now because of the pandemic.
5. 77 percent of younger Millenials (26-34) have a yearly, monthly or weekly savings goal.
6. 65% of older Millenials (35-44) say paying off or buying a home is more important than other types of debt.
7. 43% of new homeowners and half of the Millenials saved more in the past year, compared to before the pandemic.

Homeownership continues to weigh strong in the minds of all generations.  This is why we are seeing so many bidding wars happening.  It is the key to creating wealth.

To find out more about this study or to discuss your real estate goals, call Jamie Parker at 404-882-7020 or text Rockinagent to that number for a Free Home Evaluation.