Report on 2018 Housing Trends

The Zillow Group Report on Consumer Housing Trends in 2018 finds that 52 percent of homebuyers are putting down less than 20 percent on their home purchase, and that 42 percent of buyers are Millennials.

In addition to those details, the Zillow report finds that 55 percent of Millennials live in the suburbs, despite their long-standing association with big cities. On the other hand, most home sellers, 53 percent, are selling for the first time, and 83 percent have to make a concession with the homebuyer to close on the home's sale. Forty-one percent of home sellers have had at least one buyer back out. Suburban sellers have the shortest selling time, while sellers in rural areas have the longest listing times, averaging one month more than their suburban peers. 

Younger generations tend to place greater importance on neighborhood diversity than older generations: 48 percent of Gen Z buyers and 42 percent of Millennials say living in a racially diverse neighborhood is very or extremely important to them, compared with 28 percent of Gen Xers, 18 percent of Boomers and 22 percent of Silent Generation buyers.

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