Millennials are now the predominant demographic in home buying, making up 38% of buyers, according to the National Association of Realtors’ 2024 report. This group, split into younger (25-33) and older (34-43) Millennials, is reshaping the housing market by seeking flexible spaces that can function as home offices. Many have transitioned to remote work, with over half of Taylor Morrison’s Millennial buyers working from home full-time.
Experts highlight the importance of maximizing space utility, with Millennials favoring multifunctional areas in their homes. Families are opting for new builds that include features such as playrooms and dedicated workspaces, prioritizing community-oriented neighborhoods with convenient amenities.
Safety and wellness are paramount for these buyers, who tend to favor move-in ready homes—eschewing properties with excessive maintenance issues. While aesthetics matter, practicality prevails, with a preference for durable, high-quality finishes. Sustainability also plays a role, as eco-friendly features are gaining traction among homebuyers, though they are often viewed as a given rather than a specific request.
In summary, Millennials are looking for homes that reflect their values: functionality, safety, wellness, and sustainability while enabling a balanced lifestyle.