A significant amount of the nations young homeowners may be looking to sell this year, according to survey results released Tuesday.
The survey, conducted by the brokerage Coldwell Banker, found 35 percent of millennial homeowners were planning to sell their homes within the next 12 months, while 44 percent of Generation Z homeowners, the oldest of whom are 25, planned to sell within a year.
“With more than two in five Gen Z and over a third of Millennial homeowners planning to sell their homes in the next 12 months, reaching these generations is key to unlocking inventory in 2022,” Coldwell Banker CEO M. Ryan Gorman said in a statement.
The survey also found that 59 percent of Generation Zers and 65 percent of millennials expect a good real estate agent to utilize social media to market their properties, underscoring the importance of digital fluency with younger homebuyers. Social media proved important to slightly older generations as well, with 58 percent of Generation x respondents and 60 percent of Baby Boomers labeling social media use as important.
The survey was conducted online by The Harris Poll and reached over 2,000 homeowners, according to Coldwell Banker.
The agency recently launched its 2022 seller strategy, which involves an advertising campaign that aims to encourage homeowners to move to a place they have always dreamed of living in. They also launched online tools designed to make the process of listing their homes easier for sellers, such as the Move Meter, which uses data to help people envision the logistics of moving to one place or another using metrics such as housing affordability and job market strength.
“I am confident that our Coldwell Banker network is ready to meet these sellers where they are and, paired with our Seller Strategy and supporting Dream campaign, help make their dreams come true,” Gorman said.