The wisdom and security of real estate has not been overlooked by millennials. In the sixteen-year period from 2000 to 2016, the S&P 500 yielded just over 5% annual total return compared with real estate’s near 11% annual total return.
According to the Zillow Group Report on Consumer Housing Trends, half of the homebuyers in the U.S. in 2017 are now under age 36. This means that millennials have become the dominant homebuyer group – and a force to be reckoned with and planned for when homeowners are making renovations with an eye toward selling in the future.
These consumers didn’t just come of age in the digital age; they were born into it. When they want information, they know exactly where to look – usually to the smartphone in their hand. So they come to the home buying process with lots of ideas about what they want in their lives, and in their homes.