world-economy

Gen Z Homebuyers Outpace Millennials Despite Market Headwinds

A growing share of Generation Z buyers are purchasing homes despite high prices and an average first-time buyer age of 40, outperforming millennials at comparable life stages. Gen Z homeowners are more likely to purchase as single buyers and rely less on parental financial assistance than their predecessors. Jessica Lautz, deputy chief economist at the National Association of Realtors, attributes the trend to Gen Z's financial planning approaches and knowledge-sharing via social media. Francisco Vazquez, 27, exemplifies this cohort's determination. The Milwaukee resident shifted careers from wildlife conservation to increase earning potential, enabling him to purchase a three-bedroom home. Vazquez pursued aggressive savings strategies, including a period living rent-free with family. His story reflects broader patterns among Gen Z buyers strategically restructuring their financial priorities to achieve homeownership.