Request Quote

Real Estate’s Millennial Revolution: A New Market Shift

Real Estate’s Millennial Revolution: A New Market Shift

The Millennial Shift: How Young Homebuyers are Reshaping the Real Estate Market

Exploring The Real Estate Market Switch: The Millennial Shift

Hands placing a 'SOLD' sticker over a 'For Sale' sign in front of a residential property, symbolizing the successful real estate transactions facilitated by our company, leveraging innovative blockchain technology for secure, transparent, and efficient property management and sales.


Every generation carries a unique set of values and behaviors that guide their major life decisions, including homeownership. Millennials, born between 1981 and 1996, are a generation known for their tech-savviness, social consciousness, and their deep-rooted desire for experiences over possessions. As they’ve entered their prime homebuying years, they’ve brought about a significant shift in residential real estate market dynamics. Their preferences are causing real estate professionals to rethink and reshape their strategies. This seismic shift is not only influencing current real estate practices but also setting a new trajectory for the future of the industry.

This article explores the significant influence millennial buyers exert on the residential real estate market. From their unique homebuying trends to their motivations and the industry’s adaptation, we delve into how this generation is redefining norms and expectations in the real estate landscape.

The Millennial Approach

Millennials are reshaping the homebuying process through their unique preferences, including urban living, digital use, and sustainability.

Stats Speak Volumes

Millennials constitute the largest share of homebuyers, making them a dominant force in the real estate market. Their choices are significantly impacting housing trends and prices.

Adapting to Change

Real estate professionals must enhance their digital presence, promote sustainability, and offer innovative home experiences to successfully cater to millennial buyers.

The Influence of Millennial Buyers on the Residential Market

Every generation leaves its unique footprint on the world, reshaping industries and societal norms in countless ways. The millennials, also known as Generation Y, are no exception. Born between 1981 and 1996, this cohort is influencing numerous sectors, including the residential real estate market. But how, exactly, are millennials impacting the housing market, and what does it mean for property management groups, REITs, and real estate agents?

First things first, let’s clarify one thing: millennials are indeed buying homes. Despite the rumors you might have heard about avocado toast ruining their chances of homeownership, millennials are currently the largest cohort of homebuyers in the United States. They’re not just dipping their toes in the housing market—they’re diving in headfirst.

Their entry into the market is driving up demand, particularly for homes that meet their unique preferences. And let’s face it, millennials do have their own distinctive set of requirements when it comes to their future homes. They value sustainability, technological integration, and well-located properties that offer convenience and connectivity.

What this translates into is an increased demand for energy-efficient homes with smart home technology in locations close to public transportation, amenities, or urban areas. A home isn’t just a place to sleep for millennials—it’s a lifestyle statement.

The Influence of Millennial Debt

Millennials carry an unprecedented amount of student loan debt, which inevitably influences their approach to homeownership. This generation is defying the odds by leveraging their financial obstacles into negotiation tools. Their savvy financial strategies, such as improved credit scores from student loan repayments, are shifting the dynamics of mortgage negotiations. The willingness of millennials to carry housing costs over the longer term is even influencing changes in mortgage loan structures and tenures.

The Role of Social Media in Millennial Home Buying

Millennials carry an unprecedented amount of student loan debt, which inevitably influences their approach to homeownership. This generation is defying the odds by leveraging their financial obstacles into negotiation tools. Their savvy financial strategies, such as improved credit scores from student loan repayments, are shifting the dynamics of mortgage negotiations. The willingness of millennials to carry housing costs over the longer term is even influencing changes in mortgage loan structures and tenures.

Millennial Impact on Housing Legislation

Millennials are not just passive participants in the housing market. As they become more involved, they’re using their voices to influence housing legislation, pushing for changes that reflect their values and needs. This section will discuss how these legislative changes could affect the market and what they mean for real estate professionals.

The Rise of the Remote Work and Its Impact on Millennial Home Buying

Remote work isn’t just a fleeting trend—it’s here to stay. And its influence on the housing market is monumental. With the need to commute significantly reduced, millennials have more flexibility in choosing where they want to live, leading to a surge in demand for homes in previously overlooked locations.

Preparing for Generation Z

While we’re still figuring out millennials, it’s crucial not to lose sight of the next generation: Gen Z. They’re fast-approaching home-buying age, and their preferences could further reshape the market. This section will explore the preliminary trends we’re seeing with Gen Z and how real estate professionals can prepare for their entry into the market.

Source: Rose Quint, NAHB’s Assistant Vice President for Survey Research.

“Millennials have strong opinions about what they want and don’t want in their home…Understanding these needs will be paramount to the success of the housing industry moving forward,”

Millennial Home Buying Statistics: A Deeper Look

To understand the scope and scale of millennial influence on the housing market, let’s dive into some numbers:

Market Share

According to the National Association of Realtors, millennials currently make up the largest share of homebuyers in the U.S., accounting for about 38% of all buyers.

First-time Homebuyers

Zillow reports that nearly half of all homebuyers are purchasing for the first time, with the vast majority of them being millennials.

Sustainable Living

A Nielsen report states that 73% of millennials are willing to pay extra for sustainable offerings. This predilection for eco-friendly living is reshaping the housing market, as developers prioritize green building practices to attract millennial buyers.

Remote Work

With 57% of millennials expecting to work remotely in the future (according to Upwork’s Future Workforce Report), demand for home offices or multipurpose spaces is on the rise.

Millennial Homebuying Trends

The characteristics of the millennial generation play a significant role in shaping their homebuying trends. Let’s delve deeper into some of these key trends.

Embracing the Digital World

Millennials grew up alongside the internet, making them the first digitally-native homebuyers. Their approach to house hunting heavily relies on online research. They utilize various online platforms, from real estate websites to social media platforms, to gather information, compare properties, and even take virtual tours before deciding on a house. Real estate professionals must ensure they have a strong online presence to capture this demographic’s attention.

The Preference for Urban Living

Millennials often prioritize location over the size of a house. They’re more inclined towards urban living, where they have quick access to workspaces, shopping centers, eateries, and entertainment hubs. This preference has led to a boost in the demand for residential properties in urban areas.

Sustainability Matters

As a generation deeply concerned about the environment, millennials prefer homes with energy-efficient features and environmentally friendly designs. They are willing to pay a premium for homes equipped with solar panels, energy-efficient appliances, and sustainable materials.

The Sharing Economy

The concept of the sharing economy extends to the way millennials approach homeownership. They are open to concepts such as co-living and co-ownership to afford a home in a place they prefer. This trend has implications for property management groups and REITs that can cater to this growing demand for shared living spaces.

The ‘experience’ Factor

Millennials view their homes as an extension of their identities and lifestyles. They’re not just buying a property; they’re buying an experience. A home is a place to entertain, work, learn, and relax. As such, properties that offer unique amenities, such as coworking spaces or fitness centers, can be highly appealing to millennial buyers.


The increase in remote work options has had a significant effect on millennial homebuying trends. No longer bound by commute times or proximity to a physical office, millennials have greater freedom to choose where they live. As a result, many are choosing to buy homes in suburban or rural areas where they can get more space for their money. This trend has seen cities previously considered “second tier” experiencing a boom in their real estate markets.

The Rise of the ‘doer-upper’

Budget-conscious and imbued with a strong sense of individualism, many millennials are more open than previous generations to buying a ‘fixer-upper’ and making it their own. Real estate professionals can leverage this trend by showcasing the potential of these homes and providing resources or contacts for renovation work.

The Reasons Behind Millennials Buying Their First Home

Understanding why millennials are buying homes can give real estate professionals crucial insight into what appeals to this demographic. A combination of factors is motivating millennials to take the homeownership plunge:

Long-term Investment

Millennials view homeownership as a significant milestone and a solid investment. They understand that buying a house can be a significant wealth-building strategy.

Control Over Living Space

Millennials prefer owning a home as it gives them freedom and control over their living space. They can customize their environment to fit their lifestyle and needs.

Preparing for Family Life

As millennials enter their 30s, many are starting families. A desire for stability and space for their growing families is motivating millennials to transition from renting to owning.

Source: Fortum Digital Services

“In the real estate market, the millennial wave is more than a trend – it’s a transformation. Understanding their preferences isn’t an option; it’s a necessity for future success.”

Adjusting to Millennial Buyers: Tips for Property Management Groups, REITs, and Real Estate Agents

Now, here comes the million-dollar question: how can property management groups, REITs, and real estate agents adjust to these millennial homebuyers? It’s no small task, but with the right strategies, it’s entirely possible.

Understand and Embrace Technology

Did we mention that millennials are tech-savvy? This point can’t be overstated. Millennials grew up with technology and expect it to be integrated into all aspects of their lives, including the home buying process. This means leveraging digital tools for communication, using online platforms for property listings, and even offering virtual tours of properties.

Real estate agents should have a strong online presence, as millennials will often look for reviews and recommendations online. REITs and property management groups can also benefit from leveraging PropTech to streamline their operations and provide better service to their millennial customers.

Prioritize Sustainable and Smart Home Features

Sustainability and smart technology aren’t just buzzwords for millennials—they’re prerequisites. Millennials are more likely to invest in homes that are energy-efficient, have a reduced environmental impact, and are equipped with the latest smart home technology.

Emphasizing these features in property listings and marketing materials can help attract millennial buyers. For REITs investing in residential properties, prioritizing these features can add significant value and appeal to their portfolios.

Location, Location, Location… and Lifestyle

We know that location is a classic real estate mantra, but for millennials, it’s about more than just the physical location of a home. It’s about the lifestyle that location facilitates. Proximity to amenities, workspaces, recreational activities, and public transportation is often just as important to millennials as the property itself.

Property management groups and real estate agents should focus on promoting the lifestyle benefits of their properties, not just the features of the home. And for REITs, investing in well-located properties that align with millennial lifestyle preferences could yield substantial returns.

Your Marketing Partner in the Millennial Era

Change can be daunting, especially when it involves an entire generation shaking up the traditional rules of the real estate market. But with change comes opportunity. And the opportunity here is to tap into the millennial homebuyer market, which is poised for substantial growth in the coming years.

But you don’t have to navigate this new landscape alone. Our marketing company has extensive experience and a deep understanding of millennial preferences and behaviors. We leverage cutting-edge digital strategies to ensure your properties are seen by the right people, in the right places, at the right times.

In the era of millennial homebuyers, we can be your trusted partner, guiding you through the market’s twists and turns with expert advice and innovative marketing solutions. So whether you’re a property management group, a REIT, or a real estate agent, we can help you connect with millennial buyers and turn their homeownership dreams into a reality.

The humor you find in this article is like a perfectly staged home – subtle but pleasing. Millennials might be “killing” various industries, but they’re breathing life into the residential real estate market. So next time you hear a millennial joke, remember this: they might prefer avocado toast over a steak dinner, but they’re taking big bites out of the housing market.

Remember, the millennials are coming (for your real estate) – it’s time to roll out the welcome mat.


As the millennial generation continues to reach their prime homebuying age, their preferences and behaviors will play an increasingly important role in shaping the residential real estate market. Real estate professionals who can adapt to these new trends will not only be able to tap into this influential market segment but will also be well-prepared for the evolving real estate landscape of the future.

There you have it – an in-depth exploration of “The Influence of Millennial Buyers on the Residential Market”. The aim of this post was to shine a spotlight on this transformative generation and the unique ways in which they’re reshaping the housing market. As we’ve seen, these changes are not only significant but are also setting a new trajectory for the future of the industry. Remember, if you want to connect with these pioneering homebuyers, you need to speak their language and walk in their digital footsteps. And if all else fails, try a bit of avocado toast-themed humor. After all, who can resist a good avocado toast joke?

In the ever-evolving landscape of the real estate market, keeping a finger on the pulse of changing demographics is crucial. We hope this insight helps you better understand millennial homebuyers, equipping you with the knowledge to adjust your strategies accordingly. Stay tuned for more updates on the real estate market, as we continue to provide you with the most relevant insights. Because at Fortum Digital Services, we’re not just about keeping up with the trends – we’re about setting them.

Software’s Role in Modern Real Estate | Fortum Digital

Software’s Role in Modern Real Estate | Fortum Digital

Revolutionizing Real Estate: The Role of Advanced Digital Solutions in Streamlining Operations

Technology is revolutionizing the real estate industry, enabling real estate companies to excel in the field

A team collaboratively analyzing data-driven marketing insights on a laptop, showcasing charts and graphs that reflect the Fortum Digital's expertise in leveraging advanced analytics to optimize real estate digital marketing strategies.
Brief Overview

In the rapidly evolving real estate sector, embracing technology is not just an option but a necessity for staying competitive. Fortum Digital Services is at the forefront of this transformation, leveraging cutting-edge software solutions to redefine property management, marketing, and client engagement. This blog post delves into the innovative tools and platforms that are setting new standards in the industry, empowering our clients to achieve unparalleled efficiency and growth.

I. Streamline Operations

Innovative software tools simplify property management, lead generation, and client relationship management.

II. Automate Marketing Efforts

Utilize marketing automation platforms to optimize outreach, automate campaigns, and personalize content.

III. Enhance Property Experiences

Virtual tour technologies offer immersive property experiences, attracting qualified leads and increasing engagement.

Streamlining Operations with Property Management Software

Efficiency in Property Management

The cornerstone of modern real estate operations lies in the ability to efficiently manage properties. Advanced software solutions, such as Fortum Digital’s Tenant Management Solutions, offer an all-encompassing approach to rent collection, maintenance oversight, and tenant communications. These platforms not only automate day-to-day tasks but also provide actionable insights through real-time analytics, elevating property management to new heights.

Automating Marketing Efforts for Maximum Reach

Immersive Property Showcasing

Virtual tour technologies have revolutionized how properties are presented to prospective buyers and tenants. Fortum Digital’s Virtual Tours service, utilizing VR and AR, offers a compelling digital walkthrough of properties. This not only enhances the property viewing experience but also significantly increases the likelihood of engagement, setting the stage for a more informed and confident purchasing decision.

Optimizing Lead Generation with Precision

Revolutionizing Prospect Engagement

The ability to identify and nurture leads is fundamental to any real estate marketing strategy. Utilizing specialized lead generation platforms, Fortum Digital’s Real Estate Digital Solutions provide a seamless integration of marketing efforts, from initial contact to final conversion. Our platforms allow for targeted outreach, ensuring that marketing messages resonate deeply with potential clients and yield tangible results.

An interactive floor plan by Fortum Digital Services, showcasing a detailed layout of "One APARTMENT WAY" with various unit types, amenities, and available spaces. This digital visualization exemplifies our expertise in creating immersive and informative real estate digital solutions, enhancing property exploration and selection for potential tenants online.

Building Strong Client Relationships Through CRM Systems

Deepening Client Connections

At the heart of successful real estate operations is the strength of client relationships. Fortum Digital’s CRM solutions offer a sophisticated approach to managing these relationships, enabling personalized interactions and streamlined transaction management. By automating follow-ups and integrating email marketing, we help businesses foster loyalty and encourage repeat engagement.

A word from our CEO underscores the essence of our mission

“In today’s real estate market, leveraging technology is indispensable. It’s the catalyst for operational efficiency, enhanced client experiences, and sustained business growth.”


The trajectory of the real estate industry is unmistakably digital. At Fortum Digital Services, we’re not just participants in this digital revolution; we’re pioneers, offering a suite of services that span Property Management Website Development, Expert Branding Strategies, and Modern Technology Solutions for Property Management. Our commitment to innovation and excellence positions us and our clients at the vanguard of the industry, ready to capitalize on the opportunities of the digital age.

Adapting with Tech: 2022’s Property Trends | Fortum Digital

Adapting with Tech: 2022’s Property Trends | Fortum Digital

Overcoming Real Estate Challenges in 2022: Navigating Towards Success with Digital Innovation

About The Residential Industry in 2022

A modern apartment building under a twilight sky highlights Fortum Digital's expertise in presenting real estate through advanced digital marketing and 3D virtual tours, showcasing the pinnacle of contemporary property management solutions.
The landscape of residential real estate is perpetually evolving, with 2022 poised to introduce a new set of challenges and opportunities. From managing the ongoing implications of COVID-19 to adapting to the digital-first preferences of Generation Z, property management companies are at a crucial juncture. This post delves into these challenges and outlines strategic solutions fortified by Fortum Digital’s cutting-edge services, ensuring your success in the dynamic real estate market.

I. COVID-19 Management Communication

Property managers have been pulled front and center throughout the COVID-19 crisis. As we head into the new year and new mutations continue to erupt, we can expect this trend to continue.

II. The Generational Shift and New Market

More than ever, property managers are discovering how crucial taking an active role in assisting and educating residents can be. As tenant concerns skyrocket, the management of these issues have overtaken previous issues of importance.

III. Advancements in Technology

When the industry had to rapidly change to deal with COVID-19 restrictions during 2020-2021, property managers had no choice but to prioritize digital solutions for their safety as well as others. As lockdowns loom, it is more important now than before to be proactive not reactive.

Navigating COVID-19 with Advanced Digital Tools

Throughout the COVID-19 crisis, property managers have been thrust into the forefront, and this trend is likely to continue in 2022. With the emergence of new mutations, proactive and effective communication will be vital. Property owners and managers need to stay informed about rental regulations, ensure the stability of their profits and properties, and address ongoing challenges. Automating communication processes can significantly streamline operations.

The persistence of COVID-19 and emerging variants necessitate agile and proactive communication strategies. Transitioning to cloud-based applications can revolutionize how property managers interact with tenants and stakeholders, ensuring seamless, real-time updates.

Fortum Digital’s Solution

To cater to the digital generation, property managers must focus on evolving marketing trends. Building emotional connections with prospective tenants through informative and enticing content is crucial. Implementing content marketing strategies and optimizing websites for search engines can enhance visibility and attract ready-renters. Property managers should also leverage social media platforms to engage with the target audience effectively.

Leveraging cloud-based property management software enhances mobility, simplifies workflows, and ensures critical information is always accessible. Implementing tenant portals consolidates communication, making operations more efficient and responsive to the needs of the community.

This visualization underscores the critical importance of leveraging digital solutions by Fortum Digital to adapt to the evolving challenges posed by the pandemic in the real estate sector.

Embracing the Generational Shift with Digital Engagement

As we enter 2022, the real estate market will experience a significant shift due to the emergence of Generation Z. This “digital generation” heavily relies on the digital landscape and social media for lifestyle and purchasing decisions. Property managers must adapt their marketing strategies to resonate with this tech-savvy generation.

The arrival of Generation Z in the real estate market underscores the need for a robust online presence. This tech-savvy cohort expects interactive and digital-first experiences, from 3D property tours to streamlined online leasing processes.

Fortum Digital’s Solution

Optimizing your website and marketing efforts for this digital generation is paramount. Through emotional storytelling, SEO-rich content marketing for the real estate industry, and strategic social media engagement, we help you connect with and captivate Generation Z renters.

Leveraging Technology for Enhanced Efficiency and Experience

The rapid shift to digital solutions, accelerated by the pandemic, has proven essential for property management’s future. Virtual tours, contactless leasing, and digital document management have become the new norm.

Fortum Digital’s Solution

Artificial Intelligence (AI) stands at the forefront of this transformation. AI-powered chatbots and website enhancements not only streamline inquiries and lead management but also create a more engaging and personalized user experience. Our expertise in real estate digital solutions ensures your property stands out and operates at peak efficiency.

Fostering Stronger Tenant Relationships through Education and Assistance

In an era marked by uncertainty, providing tenants with support and resources is crucial for maintaining trust and satisfaction. Educating residents about their options and rights can significantly impact tenant loyalty and retention.

Fortum Digital’s Solution

We advocate for a comprehensive approach to customer service, empowering property managers with tools and content that inform and assist tenants effectively. From creating informative digital content to utilizing email marketing for property management, we ensure you’re equipped to meet your tenants’ needs compassionately and competently.

Property managers should become experts in renter’s assistance options, help residents find financial programs, adapt to changing rental regulations, and the like. Streamlining customer service processes will enable property managers to balance empathy for residents’ concerns with the need for profitability.

Addressing the Talent Gap with Smart Solutions

The challenge of filling onsite roles has prompted a reevaluation of traditional staffing models. Embracing technology can streamline operations and reduce the need for a large onsite team.

Like many companies, Pegasus Property Management is also looking at alternative staffing models that would reduce onsite personnel by leveraging technology, such as artificial intelligence (AI), digital tours and a centralized call center.

Pegasus PM is also choosing to “hire people that know people,” as Belousov puts it. “When you hire someone who is great and they have a network, you’re really hiring them and their network,” he describes.

Fortum Digital’s Solution

By implementing AI, virtual tours, and enhanced digital marketing strategies, property managers can alleviate staffing pressures while improving service quality. Our solutions are designed to automate routine tasks, enabling your team to focus on what matters most—building relationships and driving business growth.


“Talent is still the biggest pain point. We as an industry are continuing to realize that at every level…”

Summary and Conclusion

As we venture into 2022, embracing innovation and digital solutions is not just a strategy—it’s a necessity for thriving in the real estate industry. Fortum Digital Services is your partner in this journey, offering a suite of advanced digital solutions tailored to the unique challenges of property management. From cloud-based applications and AI to optimized websites and strategic marketing, we empower you to overcome obstacles and seize opportunities in the ever-evolving real estate landscape.

Embrace the future with Fortum Digital Services, where technology meets real estate expertise to deliver success in 2022 and beyond.