The motivations and risks behind today’s seven main home buyers
A combination of factors from low interest rates, new work policies, and increased equity has led to buyers of all types to come off of the sidelines and enter the market, creating the largest rise in home prices in 15 years. While there are universal factors among the seven buyer types, there remain unique motivating factors for each buyer segment. Millennials now make up the largest buying group and rank the top three motivations for buying a home as “stability and settling down; the desire to make somewhere their own; and appreciation and rising home values” according to a Zonda survey from conducted from December 2020 to February 2021. On the other end of the buyer spectrum, the 55+ market is primarily motivated by the low interest rates, gains in equity, and lifestyle changes from COVID-19. Understanding each segment’s unique motivations is key to delivering the right message in the right context. Maximize your market share by optimizing your message. Click here for the full list of factors by buyer type.