Marketing to millennial homebuyers
Communications and marketing firm Kleber & Associates has released a new report regarding marketing to millennial homebuyers.
After Baby Boomers, millennials are now the second-largest generation in the United States in 2019 with the oldest around reaching the age of 38 and the youngest around 23. They are starting careers, building families and searching for homes.
But they are also faced with more hurdles than their parents, including heavy college debt, less downtime and the impacts of climate change, according to the report.
Yet they still have enormous buying power in today’s home and construction product categories.
An April 2019 survey by Bank of America/Merrill Lynch found that 64% of millennials were “extremely,” “likely,” or “somewhat likely” to buy a home in the next two years. This is up from 53% last year.
The new report from Kleber & Associates – “How Building Product Brands Can Convert Millennial Homebuyers” – sheds light on how home builders and product manufacturers can better understand trends that are impacting first-time homebuyers.
What these homebuyers are looking for in a home when it comes to features, convenience and efficiency, is also discussed in the report.
After Baby Boomers, millennials are now the second-largest generation in the United States in 2019 with the oldest around reaching the age of 38 and the youngest around 23. They are starting careers, building families and searching for homes.
But they are also faced with more hurdles than their parents, including heavy college debt, less downtime and the impacts of climate change, according to the report.
Yet they still have enormous buying power in today’s home and construction product categories.
An April 2019 survey by Bank of America/Merrill Lynch found that 64% of millennials were “extremely,” “likely,” or “somewhat likely” to buy a home in the next two years. This is up from 53% last year.
The new report from Kleber & Associates – “How Building Product Brands Can Convert Millennial Homebuyers” – sheds light on how home builders and product manufacturers can better understand trends that are impacting first-time homebuyers.
What these homebuyers are looking for in a home when it comes to features, convenience and efficiency, is also discussed in the report.