New construction homes are attractive to a lot of home buyers, however, these new builds are winning over Millennials and Gen X pretty hard. In the 2024 New Construction Consumer Report by Realtor.com, they concluded that Millennials are the highest percentage of home buyers purchasing new construction homes over any other generation. Millennials make up 48% of home buyers purchasing new construction, with Gen X being the not too far behind trailing at 26% of home buyers purchasing new construction homes.
In their expert opinion as to why, they conclude that millennials aren’t handy and need to a purchase new construction for less issues after closing. All I can say is WOW. That’s a false statement! Calling out a whole generation’s “handiness” is uncalled for, I won’t comment on that part of it.
I will share MY expert opinion. More andmore home buyers that I work with are, yes, leaning more and more to “newer” homes or new construction homes. If they have to pay a high purchase price, they don’t want to pay for a new roof in a few years, or a new furnace, or update those old single pane windows. Since home buyers are paying these high sticker prices for a house, they want to relax and not be so money stressed for a hot minute. Can I validate my claim? Heck no, but that’s what I’m seeing on my end of being a buyers agent.
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