Homebuyer Buzz: Gen Z Is Here and Renters Are in Denver
January 30, 2020
Homebuyer Buzz is our monthly round-up of news stories related to the latest in homebuying trends — from the evolving wants of homebuyers to design news and more.
To start off the new year, we’re looking at how Gen Zers are already entering the market while renters are flocking to Denver, and we’re debating whether we’d like to add a Japanese soaking tub to our own bathrooms.
Generation Z is buying homes. Gen Z has entered the housing market, and according to realtor.com, they’re a financially savvy generation that will likely become a homebuying force in the coming years. “For this generation, homeownership seems to be a part of their growing up,” George Ratiu, senior economist for realtor.com, said. “Contrary to expectations, this generation is just as much interested in owning the home they live in as prior generations." [Realtor.com]
The Japanese soaking tub is coming to America. The latest in bathroom trends includes Japanese soaking tubs, known as ofuro tubs — particularly for bathrooms that are too small for a large, free-standing basin. Walk-in showers with large-format tiles and linear drains are also growing in popularity, in addition to bidets, decorative cement tiles and wet rooms. [The Washington Post]
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Granite still preferred to quartz. According to a recent survey, granite is still twice as preferred as quartz among U.S. homeowners. Two in four respondents said they would want granite countertops if building a new home. At the same time, less than one quarter said they would want quartz. The same survey found that more than half of respondents want double vanities in their bathrooms. [Remodeling]
Renters are moving to Denver. Data compiled by Apartment List shows the top cities attracting renters are Denver, Baltimore and San Diego. St. Louis rounds out the list at number 10. Meanwhile, the top cities renters are leaving include Orlando, Florida, Riverside, California, and Detroit. [Realtor.com]
Jewel tones and art deco are in. Vogue’s favorite interior designers have weighed in on 2020 and bright, clear and jewel-toned colors are expected. A resurgence of antiques, unique touches like chintz and bold wallpaper are also on their list of predictions. [Vogue]
Idaho is a top moving destination. A study by United Van Lines found that Idaho was the most popular moving destination in 2020, with the highest percentage of inbound migration at 67.4 percent. Oregon was the second most popular while Arizona came in third. For the second year, New Jersey had more outbound migration than any other state. [United Van Lines]