A Look Inside the Next Generation of Homeownership
🏡 Homebuying in the Digital Age: What the Next Generation Wants
As someone straddling the line between Millennials and Gen Z, I’m watching more and more of my friends dip their toes into the housing market for the first time. Whether it’s newlyweds setting up their first nest, young professionals in affordable cities, or those who've been saving diligently while living at home — the dream of homeownership is starting to feel real.
Back in the 1990s, Baby Boomers (born 1946–1964) were dominating the market. They were in their prime homebuying years, searching for spacious single-family homes or roomy three-bedroom city apartments. While mortgage rates were sky-high in the ’80s, the ’90s brought some relief, making it the perfect time to plant roots.
Fast forward to today, and the landscape looks a little different. Gen Z and Millennials are now stepping up, but with a whole new set of expectations — and a lot more technology at their fingertips.
📱 Home Searches Have Gone Digital
While realtors still play a crucial role, the internet is now every buyer’s best friend. A whopping 97% of all homebuyers use online tools to search for their future home. What’s even more telling is that 76% use a mobile device or tablet — and that number jumps even higher among younger buyers. For example, younger Millennials conduct 65% of their home search on mobile devices, compared to just 25% on desktops. Boomers, on the other hand, still lean toward laptops and desktops for most of their browsing.
Buyers typically spend about eight weeks searching, and they view around nine homes — but over half of those are viewed online only. That means digital presence matters. A lot.
📲 The Future Is App-Based
Today’s homebuyers don’t just want digital tools — they expect them. Around 70% of Gen Z and 60% of Millennials say they want to complete the entire mortgage process on a mobile app. That includes researching loan options, uploading documents, getting pre-approved, and even signing everything electronically. In fact, more than 80% of borrowers now prefer e-signatures over walking into an office.
That’s a big shift from just a decade ago — and it’s not going away.
🧠 What This Means for Lenders and Realtors
So what should mortgage service providers and real estate professionals take away from this?
First, digital isn’t optional — it’s essential. But not just any tech will do. Many of the mortgage application portals on the market today feel clunky, outdated, or downright confusing — not just for borrowers, but for lenders, too.
Young homebuyers are motivated by security, speed, and simplicity. They’re worried about missing out on a dream home because of slow processes or lost paperwork. They want intuitive tools that work — not just flashy websites that look modern but leave them lost in a maze of logins and uploads.
✅ Meeting the Moment
As the next generation steps into homeownership, lenders and realtors have a real opportunity to meet them where they are — not just physically, but digitally. That means offering platforms that are:
Mobile-first
User-friendly
Secure
And, most importantly, fast
Because at the end of the day, it’s not just about buying a house. It’s about creating a sense of home — and the journey to get there should feel just as seamless as the destination.
1: National Association of Realtors, Real Estate in a Digital Age
2: Infosys, The Role of Technology in Mortgage Lending