Page 39 - Green Builder Magazine May-June 2021

Homebuying by the

When asked about
Numbers the most important

aspects for their home,
National median home sale prices respondents ranked
healthy home, smart
$400,000 home technology,
and sustainable
OLDER MILLENNIALS
$350,000 purchasing homes with products at the top
a sale price of $300,000 of the list.
$300,000 to $400,000

$250,000 Median home sale price for Must-haves for
the MILLENNIAL SEGMENT their homes include
garages, yards and
$200,000 YOUNGER MILLENNIALS are
more inclined to purchase gardens, outdoor
homes closer to $200,000 decks, and large
$150,000
Across the board, MILLENNIALS kitchens. While yoga/
PREFER SINGLE-FAMILY HOMES meditation studios,
$100,000 AND WOULD PREFER TO PURCHASE hot tubs, pools, and
NEW HOMES—at the right price—
workshops ranked lower,
over existing ones. With that said,
82 percent of younger millennials over 50 percent of
and 71 percent of older millennials respondents reported
have recently made budget-driven
that these elements
decisions to purchase older homes.
were important.
70% of millennials PUT LESS THAN

20 PERCENT DOWN when
purchasing their homes.

The TYPICAL HOME PURCHASED BY
MILLENNIALS IS LESS THAN 1,800
SQUARE FEET with three bedrooms
and two bathrooms.

While the MEDIAN TIME THAT MILLENNIALS
PLAN TO STAY IN THEIR HOMES IS 10 YEARS,
over 15 percent of individuals in this audience
segment indicate that they have purchased
the home that they intend to stay in forever.

SOURCE: NATIONAL ASSOCIATION OF REALTORS