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Members of the generation are becominghomeownerswith the lowest household incomes.
Additionally, they are unlikely to be married or have children under 18 in their homes.
They also purchase older homes than most other buyers.
Heres more about Gen Z and housing trends.
What Is Gen Z Looking for in a Home?
They are focusing more on affordability, flexibility and convenience, she said.
Cost is a huge concern in todays market for this generation.
They have to be creative if they decide to move forward with a home purchase.
Stability means something else to them, she said.
The median age of first-time homebuyers is now 38, she said.
That reflects just how much the timeline has shifted.Remote and hybrid workhave played a huge role in this.
Many are delaying or avoiding homeownership altogether and instead are focusing on renting or exploring shared housing options.
Stauffer added that Gen Zs ability to rethinktraditional living arrangementsmay reshape the housing market in the future.
She also shared that Gen Zers have a growing interest in investment properties.
Affordability is their biggest obstacle.
Over the past three years, we have witnessed affordability deteriorate faster than almost any other time in history.
The gap between wages and housing costs is another major factor, she said.
The median home price is five times the median income level.
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