The first annual Zillow Group Report on Consumer Housing Trends states that nearly half of the home buyers in the U.S. are under the age of 36 and belong to a racially diverse middle class. Moreover, as the economy continues to improve 47 percent of those buying and 63 of those selling a home are doing so for the first time.
Contrary to other reports, Zillow believes that millennials are actively engaged in the housing market, using online resources and social media as never before.
But with all their research, millennials are still using real estate professionals; often soliciting them for strategic buying advice and even remodeling ideas.
The 200-page report is fascinating and we’ll have more highlights int he weeks to come.