Real Estate

The Real Word: How Are Millennials Shaping The Market?

Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Millennials may have waited longer to buy their first home, but now they are changing the housing market. An article published by Bloomberg, which stated that millennials, at 38 percent, “represent the largest share of home buyers in the U.S., according to a survey by the National Association of Realtors released last year.”

The article went on to say that the generation is also the “most educated” in history, with higher earnings and more inherited wealth to potentially ascend the housing ladder with.

“One of the driving forces is how many millennials there still are that haven’t bought their first home,” Byron said, “and then, to further that point, how many millennials have bought their first home but are going to start trading and reshuffling around.”

“Even when we’re sitting here in an inventory-starved market, there are so many transactions building up.” Byron later added.

More this week: Byron and Nicole chatted through a handful of time-wasters that a lot of agents are guilty of — according to an Inman article by Jay Thompson. The list included things like: scanning social media, multitasking and poor planning, to name a few.

Marketeer of the week

This week’s spotlight goes to Realtor Chris Kwon for utilizing IG Reels in a way that’s relevant and lighthearted. (Nicole and Byron gave a nod to this particular video.)

Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.

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