What Young Buyers Want

Posted by Sheila Redick on May 08, 2006

Better, not bigger, is the dream of Gen X homebuyers, according to today's New York Times. Boston-based Reach Advisors claims there is a generational shift taking place with buyers 25 to 39 spending "thoughtfully" to get more family space and neighborly interaction rather than living large.  Some developers are translating their interest into New Urbanist responses.  Toll Brothers, a major luxury home builder, believes there are "seeds of truth" in Reach Advisors' claims, and nationwide builder Centex agrees that there is a "really strong niche" in the market for smaller and better.

Demographer William Frey told the Times that the younger generation is "more practical, less attracted by glittering, expensive cities,"  but no evidence for the claim was cited.