Many buyers entered the housing market for the first time in 2023. But who were these first-timers, and what did their homebuying experience look like?
The post Opendoor: A portrait of first-time homebuyers in 2023 appeared first on Atlanta Agent Magazine.
Category: Gen Z
This is the magic mortgage rate number to reignite the housing market
Lower mortgage rates are the one thing that could draw buyers back into the housing market, according to a new survey from Realtor.com. The magic number? Around 5%.
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Can buying a home lead to love? A new Zillow survey says yes
Home might really be where the heart is. According to a new Zillow survey, 42% of recent homebuyers reported finding love after buying their new home.
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One in five millennials think they’ll never own a home
Eighteen percent of millennials — approximately one in five — believe they will never become a homeowner, according to a recent survey from Redfin.
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Half of all buyers are first-timers in 2023
First-timers made up 45% of buyers in 2022 and 37% in 2021.
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How each generation feels about homeownership in America
Motivations for homeownership are varied across generations: Gen Z and Boomers made the decision for better living conditions, while Gen X and Millennials were in search of stability they couldn’t get while renting.
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Perception of a seller’s market fails to deter younger buyers, new study finds
Homebuyers in their 40s and younger are still planning to buy homes, even though most believe the market favors homesellers.
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NAR Generational Trends Report: Millennials fall back while Gen Z doubles its market share
NAR’s annual Home Buyers and Sellers Generational Trends Report reveals that millennials are losing their market share — fast — while baby boomers and Gen Z make new gains.
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Atlanta “All-Round Gen Z Magnet,” takes top spot for zoomers
CommercialCafe named Atlanta as the best U.S. city for Gen Z, citing its parks per capita as a particularly strong draw for the active demographic.
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Will Gen Z be the mortgage generation?
Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.
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