Millennials, defined as young professionals between the ages of 18 - 35 years old, are expected to make up half the workforce by 2020 and are known as the most highly educated and diverse generation (44% accounting minority). They are known for their increased use and familiarity with technology and are also concerned with social issues. Millennials tend to be hard working and strive to find work-life balance. Millennials now make up the largest group of home buyers in the United States and are shaping the path for the future of real estate. To satisfy the demand of millennial buyers, Realtors should be aware of the ongoing trends led by this generation.
With the New Year approaching, we will soon leave behind the real estate trends of 2018, and look ahead to the new and exciting styles of 2019. Realtors can say goodbye to carpet flooring, avocado colored appliances, and bold colors, while welcoming trends that are predicted to be driven by the increase in millennial home buyers. From a contradicting mix of rustic, modern and boho designs, along with a boost in sustainable materials and smart-home technology, millenials will be integral in shaping the defining trends of 2019.