Millennials Prefer Real Estate Apps to Dating Apps

published May 29, 2022
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According to data, millennials are now the largest population group in the U.S. Currently aged between 26 and 41, millennials do things a lot different than their parents’ (and their parents) generations. Add in the cost of living crisis, inflation, and the lack of availability, many millennials are yet to own their first home—myself included—but that doesn’t mean we don’t want to.

Opendoor recently conducted its 2022 Millennial Homebuying Trend Study,  providing an in-depth look at the generation that has never owned a home—also known in the study as “Unmortgaged Millennials”. Desires have changed, and home ownership is now on the agenda for many millennials who may have chosen otherwise in the past.

The results found that more than half of Unmortgaged Millennials have grown increasingly interested in owning a home within the past year (52 percent) and 69 percent would prefer home ownership to renting. Millennials are aware that the process of buying a home doesn’t come easy, with saving money becoming a big priority for many of those looking to buy their first property. 47 percent say they would delay vacations for five years if it meant they could buy a home, and 41 percent would even delay a wedding for five years.

 The list goes on: 44 percent would say goodbye to their morning coffee runs and eliminate coffee altogether, and 35 percent would miss out on their favorite shows and eliminate all TV.

Credit: Opendoor

While the want for home ownership is there, almost half (49 percent) of millennials are worried that they won’t ever own a home due a varying factors. 45 percent of Unmortgaged Millennials are worried about the rising house prices and 42 percent feel that their income is too low to ever be able to buy a house of their own.

When it comes to searching for their dream property,  two-thirds of respondents use real estate apps, and a majority browse for homes online. In fact, Unmortgaged Millennials value their real estate apps ahead of dating apps, travel apps, and sports betting apps.