How Millennial Homeowners Affect the Housing Market

A survey of 1,000 homeowners aged 18 or older by ClearVoiceResearch.com indicates that Millennials make home-buying decisions based on technology, the Internet, and their eco-conscious values. Millennials prefer to use online directories, Google, and other Web-based sources to generate a list of agent candidates; while older buyers rely on referrals from family and friends. Millennials also shy away from in-person contact and prefer agents to reach out via text or mail, while the 45-and-older crowd prefers phone or in-person conversations. Younger buyers reported the lowest levels of satisfaction with contractors, expressing frustration about how extra costs, project timelines, and potential problems are communicated. As for eco-consciousness, 58 percent of Millennials rate the re-use of old materials in remodeling projects as important; and many would opt for green alternatives regardless of cost. | Read More