New survey unveils Gen Z home buying trends

By AZ Business Magazine | AZ Big Media

Homie, a disruptive real estate technology company changing the way homes are bought and sold, recently conducted and released a nationwide survey that reveals home buying trends and perspectives of the next generation of homebuyers, Gen Z.

Key survey findings include:

• Gen Z is looking to change the way homes are bought and sold through technology. The majority of participants (67%) would consider using an online service or app to buy a home compared to 39% of millennials. While millennials are currently the largest adopters of real estate technology, digital tools will become even more prevalent as Gen Z enters the real estate market.

• Gen Z is willing to spend less money on a home compared to other generations. 44% of participants said they are willing to spend $150-250K on a home. According to the National Association of Realtors, the median U.S. existing home price is over $360,000, proving this generation will need to be willing to spend more in order to achieve homeownership.

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