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Sign into your accountDreaming of Home: Many Gen Z and Millennial Homeowners Plan to Sell in the Next 12 Months
March 29 2022
2022 is shaping up to host another hot real estate market with more than two in five (44%) of Gen Z homeowners (age 18-25) and over a third (35%) of Millennial homeowners (age 26-41) saying they plan to sell their homes within the next 12 months, according to the latest survey commissioned by Coldwell Banker Real Estate, and conducted online by The Harris Poll among over 2,000 U.S. adults. With so many young American homeowners planning to sell in the next year, they need tools and guidance to navigate the tight housing market.
Meeting Consumers Where They Are
The survey found that 59% of Gen Zers and 65% of Millennials say they expect good real estate agents to use social media (e.g., Facebook, TikTok, Instagram) for marketing purposes (e.g., to sell themselves as an agent, to post their home listings).
Coldwell Banker commissioned the survey to understand how much they value a real estate agent's social media presence. Findings include:
- Older Americans Value Social Media, Too: 58% of Gen Xers (age 42-57) and 60% of Baby Boomers (age 58-76) strongly or somewhat agree that they expect good real estate agents to use social media for marketing purposes.
- A Majority of Americans Agree: 61% of all Americans would expect good real estate agents to use social media for marketing purposes.
- The Social Generation: Nearly two thirds of Millennials (65%), and nearly half of Americans overall (48%), would think more highly of a real estate agent if they had a strong professional social media (e.g., Facebook, TikTok, Instagram) presence.
"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," said M. Ryan Gorman, CEO of Coldwell Banker Real Estate.