There are about 79 million millennials in the U.S., and their purchasing power is estimated to be $170 billion per year. This powerful demographic, born from the early 1980s to the early 2000s, now represents the largest group of homebuyers at 32 percent, taking over from Generation X.

But when it comes to millennial homebuyer behavior, it can be difficult to distinguish fact vs. fiction. We looked at information from a recent Pardee Homes and BUILDER survey, information from realtor.com, and the National Association of Realtors to cut through the noise.

millennial homebuyers

Photo: National Association of Realtors

We know that millennial homebuying behavior is different than older generations, like texting vs. calling when contacting their Realtors and extensive use of real estate apps to do their research (be sure to check out our blog post, 6 Ways Millennials Are Changing Real Estate Business for Everyone, to get the full breakdown.)

But what are the specific preferences of this new breed of homebuyer? Read on for 5 unexpected facts about millennial homebuyers and what they want in their home.

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PSW is constructing a single-family development in North Oak Cliff called Bishop Heights. Homes will include green features such as solar panels and earth-friendly construction materials.

PSW is constructing a single-family development in North Oak Cliff called Bishop Heights. Homes will include green features such as solar panels and earth-friendly construction materials. The Austin-based company recently announced another Dallas development planned for an area near SMU.

PSW Homes is slowly changing the face of Dallas neighborhoods it seems, as the Austin-based builder buys up tracts in hot neighborhoods throughout our fair city and redevelops into eco-friendly and attractive housing. The builder just announced a second East Dallas development, a follow-up to the company’s Grove on Lovers Lane neighborhood, that will occupy a 7-acre site southeast of North Central and Mockingbird, replacing a development full of aging duplexes.

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