Share of prospective home buyers who prefer a new home 2021-2023, by generation
According to a survey conducted among over 15,000 respondents in the United States, approximately 25 percent of home buyers who were looking to buy a home in the next 12 months would prefer a newly-built home as of the second quarter of 2023. This result reflected a significant change from 2021, when 33 percent of respondents preferred a newly built home. Among different generation groups, millennials had the strongest preference for new over existing housing (24 percent). During the same period, roughly 15 percent of U.S. adults were planning a home purchase in the next year.