Homebuying: A Generational SnapshotAs we usher in the second Spring of the COVID-19 pandemic, we hope we’ll see a steady return to “normal.” Like other socioeconomic consequences
Homebuying: A Generational Snapshot - Raleigh, North Carolina
Dated: April 23 2021
Homebuying: A Generational Snapshot
As we usher in the second Spring of the COVID-19 pandemic, we hope we’ll see a steady return to “normal.” Like other socioeconomic consequences of the pandemic, the 2020 housing market pushed some people ahead and left others, including many families, behind. Historically low interest rates fueled a refinance boom that helped existing homeowners and made potential homeownership more attractive for renters. However, a limited housing supply complicated the situation by driving housing prices up and further constraining affordability for first-time homebuyers (FTHBs).
The outlook for 2021looks positive. Lenders can expect to see both post-pandemic and generational influences shifting homebuyer preferences, whether it’s Gen Z struggling to save that first down payment, millennials moving to larger suburban homes to continue working remotely or baby boomers preparing to downsize.
Read and share the infographic below for a snapshot of important characteristics among different generations of homebuyers.
With a background in real estate since 1996 Ricardo earned his broker’s license in 2015 and quickly became both a top producer and a leader in his market center by working exclusively with investors....
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