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Zillow Group: Why millennials are the future of real estate

The youngest buyers are less likely to use an agent, but more likely to recommend one they do use
Published on Oct 18, 2016
  • Zillow Group has released the results of a 160-question survey of more than 13,000 homebuyers, homesellers, homeowners and renters.
  • The company found that people under age 36 make up half of all buyers.
  • While 75 percent of buyers overall choose to use an agent, millennials are the least likely to do so.

There are myriad stereotypes in the zeitgeist about millennials -- those between 18 and 34 -- and their attitudes toward real estate. Some believe they don't want to purchase homes or don't want homeownership badly enough to make the sacrifices necessary to save up the funds.While others may realize that these beliefs aren't quite right, the extent to which they're wrong may be surprising.Real estate behemoth Zillow Group challenges those stereotypes in its first annual report on consumer housing trends, which the company says is the largest-ever survey of U.S. homebuyers, homesellers, owners and renters.How do millennials feel about agents? The 167-page report also shed light on this question.Screen shot from Zillow Group's Consumer Housing Trends reportSeventy-five percent of buyers hire a real estate agent during the buying process, according to the report. Though the majority of millennial buyers use an agent, they are the least likely to do so among the gen...

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