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In this first of five installments of Consumer Insights Now, sponsored by American First Finance, we take an in-depth look at consumers’ recent homebuying activity and also a look at who plans to buy homes in the next six months. A key takeaway is that millennials (ages 29 to 44) comprised six out of 10 of the most recent homebuyers in the past six months. Also, younger millennials (ages 29 to 36) and Gen Zers (18 to 28) make up the largest share of consumers planning to purchase a home in early 2025.
Two out of three surveyed also are first-time homebuyers. Another important takeaway for the furniture industry is that 61% of those surveyed said that furniture was the most important purchase for the first year in their new home, followed by new appliances, kitchen counters and cabinets and lighting fixtures. For this and more, scroll through the entire survey below.
