Three surprising shifts among today’s buyers and sellers
Findings from Zillow's Consumer Housing Trends Report, a survey of nearly 60,000 buyers, sellers, renters, and prospective buyers nationwide.
Zillow Unlock took over Las Vegas in early November, drawing thousands of agents, brokers and industry leaders eager to get ahead of what's next in real estate. Over three days, both Zillow and broader industry experts shared insights, strategies and stories from the front lines of today's market.
One of those takeaways came right from Zillow home trends expert Amanda Pendleton. Her job, as she puts it, is to dig through "mountains of Zillow data so you don't have to." At Unlock, Amanda revealed new findings from Zillow's Consumer Housing Trends Report, a survey of nearly 60,000 buyers, sellers, renters, and prospective buyers nationwide. The results cut through the headlines and show how today's consumers are really approaching homebuying. Here are three takeaways every agent should know.
1. Gen Z buyers are here, and they're serious
Millennials may no longer be the new kids on the block. The oldest members of Gen Z have hit 30, and they're entering the market in a big way. Gen Z now makes up 18% of buyers and 14% of sellers nationwide.
They're optimistic and resourceful, even as affordability challenges persist. Many lean on family support, with 46% receiving a gift or loan to help with their down payment, but they're also the generation most likely to be denied credit. Still, they're determined and optimistic: 37% of Gen Z renters say they plan to buy their next home, a higher share than older generations.
To reach them, meet Gen Z where they are: online. Of all Gen Z prospective buyers, 42% say they're more likely to hire an agent with a social media presence. Your digital first impression matters, and so does your authenticity. Keep your info up to date so it gets pulled into AI-powered searches and respond quickly (preferably by text).
2. The comeback buyer is redefining loyalty
More than half of today's buyers — 55% — are repeat buyers. They've adjusted to higher rates and are back in the market, but they're not automatically returning to the agent who helped them last time.
While 79% of recent buyers say they'd work with the same agent again, only 13% of repeat buyers actually do. Most shop around, with nearly half interviewing multiple agents before choosing one. Loyalty can't be assumed; it has to be earned again.
To re-engage past clients, focus on adding value where it counts. Repeat buyers prioritize organization, paperwork, and offer strategy more than first-time buyers. Lean into the value you offer repeat buyers: strategic advice to help them land the right home at the right price, and logistics support to manage their transaction from beginning to end.
3. Sellers want strategy, not just price
Today's sellers are more strategic than ever. Yes, profit matters, but so does certainty. One in 3 sellers say their top priority is selling within their preferred timeframe, and many are embracing creative tactics to make that happen.
Nearly 42% of sellers covered some or all of the buyer's closing costs, and 1 in 4 offered a rate buydown or repair credit. Sellers are taking a page from builders' playbooks, using concessions to keep deals moving.
Agents who lean into digital marketing stand out: 75% of sellers say they're more likely to hire an agent who offers virtual tours, and 78% say the same about high-quality photography. Showcase your listings, bring data to every presentation and position yourself as the strategist sellers can trust.
Today's buyers and sellers aren't the same as they were five years ago, and that's a good thing. Because agents aren't the same either. You have new tools, new data and new opportunities to deliver value that keeps clients coming back.
Dive deeper into the data:
Read the full Zillow Consumer Housing Trends Report for Buyers
Read the full Zillow Consumer Housing Trends Report for Sellers