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Up Front
LUXURY
Millennial Tastes The Millennial generation is breaking into the “Social media is everything,” says Daniel
luxury property market in a major way. They Heider, global real estate advisor, TTR
A new generation has surpassed number some 72.7 million in the U.S. and, Sotheby’s International Realty in Washington,
Baby Boomers as the biggest according to the National Association of D.C. “Almost everyone uses social media.
group of homebuyers—and their Realtors, surpassed Baby Boomers in 2024 The smartphone is to our generation what
property preferences are distinct to become the largest group of homebuyers the TV was to our parents and radio was to
at 38%, an increase from 28% in 2023. our grandparents. There’s nothing more
With some $84 trillion expected to important than attention—and most of the
pass from the Silent Generation and Baby attention today is on social media.”
Boomers to younger generations, according “I work with quite a few Millennials,”
to a January 2022 report from consulting says Kelly Ladwig, global real estate advisor,
firm Cerulli Associates, Millennials could Zeitlin Sotheby’s International Realty in
inherit as much as $27 trillion by 2045. Nashville, “and they have definitely been
One distinct aspect of Millennial buyers influenced by social media. Instagram has
is, not surprisingly, their extensive use of brought so many ideas and home features to
social media in their property research. so many people’s attention. Now, my clients
12 Photos: Italy Sotheby’s International Realty, Realogics Sotheby’s International Realty.
