Survey Says?

Prospective Millennial Homebuyers

There’s been a ton of talk within the homebuilding industry regarding millennials and their home buying preferences. Are they or aren’t they? Will they or won’t they? Or, most commonly—what’s taking them so long? Well, while this topic of conversation isn’t new to us it remains a subject of heated debate among our colleagues. So, we decided to do a little digging on our own to find out what this—and many other—important consumer segments are thinking when it comes to taking the new home plunge.

In a press release published in May, we shared some key findings to a national consumer survey conducted by Wakefield Research on behalf of Taylor Morrison. One of the biggest takeaways? 58 percent of millennials think that the American concept of a “forever home,” or a house that will last through all phases of a person’s life, is outdated.

Other interesting stats about millennials include that a third of these buyers intend to live in the next home they buy for less than 10 years and 80 percent are equally or more interested in a newly constructed home over a resale home.

Prospective millennial homebuyers infographic - Learn more about the Taylor Morrison Difference
(PRNewsfoto/Taylor Morrison)

But our survey didn’t stop there. We also looked at all prospective homebuyers who have purchased a home in the last three years, or who are likely to purchase a new home in the next three years.

 

Prospective Homebuyers Infographic
(PRNewsfoto/Taylor Morrison)

In the last decade so much about the housing industry has changed—from locations where people want to live, to the types of homes people want to buy. Taylor Morrison offers great homes in excellent locations for a wide range of lifestyles and demographics, and I believe our business model is aligned with what homebuyers want. We offer homes for every phase of life. – Sheryl Palmer, Taylor Morrison’s president and CEO

To see the full release, click here. Or if you have any questions about some of the types of new homes Taylor Morrison is building for all different consumer segments, please contact us.

All information (including, but not limited to prices, views, availability, school assignments and ratings, incentives, floor plans, exteriors, site plans, features, standards and options, assessments and fees, planned amenities, programs, conceptual artists’ renderings and community development plans) is not guaranteed and remains subject to change, availability or delay without notice. Any community improvements, recreational features and amenities described are based upon current development plans, which are subject to change and under no obligation to be completed. Maps and plans are not to scale, are not intended to show specific detailing and all dimensions are approximate. Prices may not include lot premiums, upgrades and options. Community Association or other fees may be required. This communication is not intended to constitute an offering in violation of the law of any jurisdiction and in such cases our communications may be limited by the laws of your state. Please see a Taylor Morrison Community Sales Manager or Online Sales Manager for details and visit www.taylormorrison.com for additional disclaimers. For our Age Qualified Communities only: At least one resident of household must be 55 or older, and additional restrictions apply. Some residents may be younger than 55 in limited circumstances. For minimum age requirements for permanent residents in a specific community, please see Taylor Morrison Community Sales Manager for complete details.