Among general housing preferences, there is a noticeable upward trend in the percentage of millennials who desire a new home built for sale offered by a builder, according to a recent study by the NAHB Economics team.
Between 2007 and 2018, the percentage of millennial home buyers who prefer a new home increased from 28% to 41%. This increase seems to be at the cost of the desire for a home custom-built on the eventual home owners’ lot, which fell from 37% to 18% over the same period.
Preference for an already existing home hovered around 40% during this 11-year time span.