Field Guide to Millennial Home Buyers
(Updated August 2014)
Members of the Millennial generation, those in the 18-34 age range, have been slow to enter the home buying market. Sidelined by high unemployment, student loan debts, and tight credit, Millennials have a different outlook on home ownership and long-term investment than previous generations. Even so, a recent report by the Joint Center for Housing Studies of Harvard University found that “the number of households in their 30s should increase by 2.7 million over the coming decade, which should boost the demand for new housing.”
Find out more about the Millennial generation, who they are, their attitudes towards home ownership, and how to satisfy their real estate needs with the articles and other resources in this Field Guide. (A. Siudzinski, Senior Information Specialist)
Q - ProQuest articles available for NAR members only. Password can be found on the ProQuest/Find Articles page.
Credit: 2014 Home Buyers & Sellers Generational Trends, (National Association of REALTORS®, 2014).
Characteristics of the Millennial Generation
It’s official: the boomerang kids won’t leave, (The New York Times, June 20, 2014).
Why millennials still don’t save enough, (U.S. News & World Report, June 18, 2014).
Four in 10 millennials say they feel overwhelmed by debt, poll finds, (The Los Angeles Times, June 10, 2014).
11 facts about the Millennial Generation, (The Brookings Institution, June 2, 2014).
The millennial way of shopping: more careful, durable and frugal than you think, (Bloomberg Businessweek, Apr. 25, 2014).
Inside the Millennial mind, (Forbes, Apr. 16, 2014).
Meet the Millennials: The consumers to change the marketing landscape, (The Next Web, Mar. 29, 2014).
Millennials in adulthood: Detached from institutions, networked with friends, (Pew Research, Mar. 7, 2014).
Millennials and Home Ownership
Are young people growing more confident about the housing market?, (St. Louis Post-Dispatch, July 5, 2015).
NAR identifies best purchase markets for aspiring Millennial homebuyers, (NAR Press Release, July 24, 2014).
'Nuanced View' Needed When It Comes to Millennials; As the economy improves, so too might the number of U.S. households headed by 18- to 34-year-olds, (U.S. News & World Report, July 24, 2014).
Yes, millenials actually are living in their parents’ basements; This isn’t just another bogus trend -- and these numbers prove it, (The New Republic, July 9, 2014).
Millennials the key to a stronger housing recovery, (JCHS Housing Perspectives, June 26, 2014).
Millennials squeezed out of buying a home, (CNN, June 1, 2014).
Why millennials are hurting the real estate recovery, (MarketWatch, May 12, 2014).
Millennials Are Still Struggling To Get Into Their First Homes; Gen Y Presents Huge Market, (Investor’s Business Daily, Mar. 28, 2014). Q
2014 National Association of REALTORS® Home Buyer and Seller Generation Trends, (National Association of REALTORS®, Mar. 11, 2014).
Prospect of homeownership for Millennials, (Economist’s Outlook, National Association of REALTORS®, Feb. 13, 2014).
Must-haves to sell to young homebuyers, (Bankrate.com, 2014).
Millennials as real estate clients: communication is crucial, (Keeping Current Matters, July 2, 2013).
Real estate exec unlocks the secret of roping in Millennials, (Brokelyn, Aug. 19, 2013).
Better Homes & Gardens Real Estate Survey Shows New ‘Kids’ on the Block Are Willing to Work Hard to Make Home as Unique as They Are, (Better Homes & Gardens news release, Mar. 12, 2013).
Marketing to Millennials
Millennials in focus: Social media is the message, (SNL Kagan Media & Communications Report, July 3, 2014). Q
How millennials are changing the face of marketing forever, (BCG.Perspectives, Jan. 15, 2014).
5 tips for marketing to Millennials from a Millennial, (Huffington Post, Oct. 7, 2013).
Is Your Brokerage Ready for Gen Y Buyers?, (REALTOR® Magazine, Sept. 2013).
5 ways to more effectively market to millennials, (AGBeat, June 18, 2013).
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
Marketing to Millennials (Adobe eReader, Kindle, Overdrive READ)
Social Media Marketing All-In-One for Dummies (Adobe eReader, Kindle, Overdrive READ)
Facebook Marketing (Adobe eReader, Kindle, Overdrive READ)
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