Millennials to Shape Housing Preferences, Says NAHB
The millennial generation is poised to make a significant impact on home design with their strong preferences for energy efficiency and smart home technology; comfortable, workable kitchens and more casual spaces, according to speakers from the National Association of Home Builders (NAHB) and Better Homes and Gardens' press conference on housing preferences for millennials, Gen X, boomers and seniors at the NAHB International Builders' Show in Las Vegas.
But first, they have to move out of their parents' homes and into a place of their own, said Rose Quint, NAHB's assistant vice president for survey research. In 2015, about 15% of adults ages 25-34 lived with a parent, about 3% more than the highest share between 1983 and 2007—12%. That translates into 1.3 million people who normally would be out there, forming their own households, demanding their own units either as buyers or renters.