Myth:
Largest potential homebuyers after married couples are single men.
Fact:
18% of homebuyers are single women, twice the percentage for single men (only 9%).
Myth:
Millennials are renting, not buying homes.
Fact:
Millennials represent the largest generational group of homebuyers.
Myth:
Baby Boomers don’t search for homes on the internet.
Fact:
Baby Boomers use the internet as their primary source for searching for new homes.
Myth:
Younger Buyers are willing to buy a fixer upper at a discount.
Fact:
74 percent of buyers under the age of 28 bought new homes to avoid renovations and problems.
Myth:
Younger Buyers Find Their Real Estate agents through web based searches, like Zillow.
Fact:
Buyers 28 years and younger rely more on referrals from family, friends, and neighbors than older buyers.
Source:
2019 National Association of REALTORS® Home Buyer and Seller Generational Trends.