At different stages in life, we are all looking for different things. The Pandemic has changed some of our perspectives and young Americans (Millenials and Generation Z) are no exceptions. Here is a quick run down of trends by age group:
Younger homeowners are seeking larger homes and outdoor spaces and walkable areas.
Families with children in school are looking for detached homes, larger yards and spaces for school and office.
Americans 55 and older and those with higher incomes are looking for walkability in their neighborhood and are also embracing small downtown areas that have easy access to shops and restaurants.
So.....open space and a place to get out and enjoy the neighborhood are topping the list. No surprise after a long Shelter in Place!
Source: “NAR Community and Transportation Preferences Surveys,” National Association of REALTORS® (2020)