In 2020, median renovation spending was $15,000. That amount increased by 60% in three years, with the median home renovation costing $24,000 in 2023.
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Category: Gen X
Opendoor: A portrait of first-time homebuyers in 2023
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?
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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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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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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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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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