Who Is Buying Houses in 2019?

The baby birds are leaving the nest, but they’re not going very far, according to Zillow’s Consumer Housing Trends Report 2019. A majority of homebuyers stayed in the same city, but more younger buyers tend to stay than the older generations who are more likely to move out of state. Other generational differences shape the housing trends from the factors they consider to the way they shop.

According to the report, the typical buyer is 43, white, college educated, married with children, and with a $75,000 household income⁠—more than $10,000 less than the average in 2017. A majority of homebuyers fall in the Millennial to Baby Boomer generations, with Millennials the most likely to be first-time buyers. Younger generations were more likely to consider future renting potential⁠—think opportunities like AirBnB⁠—and smart home technology than the Baby Boomers and Silent Generation.

The younger generations are also more tech savvy when it comes to home tours, with 37% of Millennials and Gen Z's preferring 3D tours to in-person viewing, compared to only 10% of the Boomers and Silent Generations. Still, almost a third of the older generation surveyed still wishes that there were more virtual tour options.

With the high stakes of homebuying, half of buyers “wish they had done something differently.” But the younger generations bear most of the regrets: 82% of Gen Z’s have at least one regret about the process such as starting the process earlier, moving faster, or choosing a different home.

One shared desire? Parking the car in peace. Across all generations, nearly half considered assigned parking to be highly important when looking for a house. After all, coming home to even the most beautiful house cannot lessen the headache of filing insurance claims for the fender bender with a double-parked neighbor.

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