Achieving the American Dream

By MNR News posted 10-29-2021 06:56

illustration of a family in front of a just sold home2019 data shows millennials preferred renting to owning a home. The pandemic changed minds. Millennials and Zillennials are prioritizing homeownership.

Opendoor analyzed data from 850 people across the US planning to buy or sell a home in the next 12 months. The results make up their Opendoor 2021 Report: Achieving the American Dream, and is a look into the habits and preferences of home buyers. Below are some key highlights:

  • 41% of buyers said their top concern is finding a home they love that’s within budget
  • 57% of buyers said they would choose to stay in budget and buy a fixer upper, while 43% said they would overbid for a turn-key property
  • 60% of Millennial buyers are browsing home listings on a real estate app vs. social media.
  • 39% of buyers are halting the home search because of uncertainty with COVID-19; 35% are pausing because the current real estate market is intimidating
  • Most coveted home features by generation:
    • Large Backyard:
      • 27% of Zillennials
      • 19% of Millennials
      • 20% of Generation X
      • 16% of Baby Boomers
    • Modern Kitchen
      • 27% of Zillennials
      • 13% of Millennials
      • 21% of Generation X
      • 45% of Baby Boomers
    • Smart Home Features
      • 15% of Zillennials
      • 20% of Millennials
      • 10% of Generation X
      • 2% of Baby Boomers
    • Environmentally Friendly Features
      • 11% of Zillennials
      • 26% of Millennials
      • 21% of Generation X
      • 8% of Baby Boomers