Generation Z Enters the Housing Market
Generation Z might be sneaking up on us but mark our words, they will not be ignored. We have had a few posts about this rising cohort and now we’re starting to see them enter the housing market. A recent report by Realtor.com looks at recent mortgage origination data to give us a snapshot of each generation’s share of homebuying. There is a lot of good data in this report including a list of the largest 100 metros, ranked by Generation Z’s Home Loan Origination Share.
- The Generation Z share of primary home loan originations is about 2%
- The median price of a home purchased by Generation Z buyers is $ 160,600
- Generation Z is putting and average of 5% down on their home purchases
- Top markets for Generation Z home shoppers are smaller midwestern and southern markets