For the past few years the topic of how to communicate with millennials has dominated the conversation in numerous industries. When it comes to real estate, connecting to the millennial buyer has demanded so much focus and conversation that there has not been much room to truly think about what’s next.
While millennials still make up the largest segment of home buyers, what’s next is here! Generation Z has entered the housing market in full swing. For reference, Gen Z is categorized as those people born in 1995 and after. Data from Transunion reports that the number of Gen Z consumers who took out a mortgage more than doubled in one year. According to Transunion, the number of Gen Z buyers with a mortgage rose by 112% from the second quarter of 2018 to the second quarter of 2019.
So what does this mean for all of us in the housing industry? It’s time to figure out what motivates and resonates with Generation Z. Stay tuned next week for information on what the key characteristics and motivators are of this generation.
Click here to read HousingWire’s article on Gen Z entering the housing industry.