For years, Millennials have dominated conversations about first-time homebuyers. Now, another generation is making its move.
According to the latest ICE Mortgage Monitor, Gen Z buyers accounted for a record 20% of home purchase rate locks during the second quarter of 2026. Nearly one-third of all first-time buyer loans were made to Gen Z borrowers, and they represented more than one-quarter of FHA purchase loans.
Despite higher home prices and mortgage rates, younger buyers are finding ways to become homeowners by adjusting expectations, utilizing FHA financing, and taking advantage of down payment assistance programs.
Gen Z buyers expect more than just access to listings—they're looking for guidance. They value REALTORS® who educate them on financing options, explain the buying process clearly, and communicate quickly through digital channels.
Many are purchasing condos, townhomes, or smaller single-family homes as their first investment rather than waiting for their "forever home."
Across Morris, Essex, Union, and Passaic counties, demand remains strong for homes that offer affordability, convenience, and access to transportation.
Want to better serve today's buyers?
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Today's buyers are looking for educators, not just salespeople. The more value you provide, the more trust you build.
