Understanding Generational Trends in Home Buying and Selling: Part 3

Part 3: Gen Z

How does the real estate market affect generational trends in homebuying and selling, and how can real estate agents, mortgage professionals and title agents best assist each demographic?

This blog series examines data from the National Association of REALTORS® (NAR) recent home buyers and sellers report through the lens of marketing research firms, to help industry professionals identify key strategies for courting customers from different generations. This blog, the final installment in the series, focuses on buying and selling trends for Gen Z, the youngest generation of home buyers and sellers. Click here for Part 1: The Silent Generation and Baby Boomers, or here for Part 2: Gen X & Millennials.

STRATEGY #1: Use Data to Create a Good First Impression

As the youngest generation, Gen Z (born 1999-2011) remained statistically irrelevant in most studies, making up just two percent of both buyers and sellers. However, NAR data indicates that homeownership will be an important rite of passage for this group, and that their increased proclivity for technology and eco-friendly alternatives will greatly influence the real estate and home building industries in the coming years.

STRATEGY #2: Understand and Honor Customer Preferences

Poised to become the largest consumer base in the U.S. within the next decade, Gen Z’s preferences will greatly influence the housing market. One thing is for sure: this generation is already the most climate-conscious and wants to invest accordingly. A 2020 survey by First Insight, which specializes in this age group, found that 73 percent of Gen Zers are willing to pay more for sustainable products, from construction materials to eco-friendly home features. Having grown up in the digital age, Gen Z is the generation most comfortable with, and reliant on, the internet, apps and other digital services. As such, they are primed to explore alternative methods for buying and selling, like iBuyer services, home sale-leaseback agreements and mobile/online closings.

STRATEGY #3: Show Care and Respect

Highly conscious of current events, social equality and autonomy, Gen Z consumers expect the same values and social consciousness from the brands and services they turn to, and will likely do more research before making a purchase. Flexibility, omnichannel customer experiences, a social media presence and a commitment to diversity, equity and inclusion (DEI) are all important factors as well. If you want a customer for life, you need to meet them where they are and be willing to go the extra mile. Quick responses to social media engagement, follow-up texts and respecting pronoun preferences are all simple but effective ways to attract and retain Gen Z customers.

There’s a reason countless Americans have relied on Old Republic Title for a century. Through changing markets and generational trends, we continue to offer personalized service and a variety of resources title insurance designed to help our customers protect one of their biggest investments. Whenever you’re ready to buy or sell your home, Old Republic Title will be there to help.


Copyright ©2022 “2022 Home Buyers and Sellers Generational Trends Report.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. March 2022, https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends