2021 NextGen Homebuyer Report Covers Consumer Behaviors and Trends on the Largest Growing Buyer Demographic
In collaboration with the Mortgage Bankers Association and National MI, Cultural Outreach releases the 2021 NextGen Homebuyer Report, which sheds light on the consumer behavior of the largest growing demographic of homebuyers, including insight into the financial behavior and perspectives of a young generation in the midst of a pandemic.
LOS ANGELES, Oct. 1, 2021 /PRNewswire-PRWeb/ -- Cultural Outreach, a multicultural marketing company that focuses on housing, today released the 2021 NextGen Homebuyer Report, a survey and report that serves to educate the housing industry on consumer trends of the next generation of homebuyers. The NextGen Homebuyer Report was developed in collaboration with the Mortgage Bankers Association (MBA) and private mortgage insurer National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH).
Following up on the 2020 NextGen Homebuyer Report, this year Cultural Outreach surveyed 1,000 NextGen homebuyers, defined as buyers from ages 22-37, including Millennials and Generation Z, to understand their mindsets and experiences related to homeownership, particularly during the current climate of change and volatility. All of those surveyed had purchased a home in the past three years or were planning to purchase a home soon.
"Despite a year of uncertainty and a shift in purchasing habits, NextGen homebuyers expressed resiliency and adaptability," said Kristin Messerli, founder of Cultural Outreach and co-author of the report. "This year, we were able to go deeper into some of the fears and expectations of this generation, examining nuances across race, socioeconomic background and experiences in the homebuying process."
"Our goal is to better understand today's borrowers and support best practices that will help generate more business in a fast-changing market," said Steve O'Connor, SVP of Affordable Housing Initiatives at the MBA.
Due to the lack of personal finance education available, this generation has instead turned to their own independent research and personal networks. The report's research emphasizes the need for empowering education, third-party reviews, and social media content to support capturing and retaining this customer segment.
"We have partnered with Kristin Messerli and the Cultural Outreach team for several years to bring high-quality educational resources such as this report to the market," said Christina Bartning, Senior Vice President of National MI. "We are proud to sponsor a report that includes actionable guidance to reach NextGen homebuyers."
The full report is available for download at: https://www.culturaloutreach.com/new-nextgen-homebuyer-report.
About Cultural Outreach:
Cultural Outreach is a multicultural marketing and training company that helps companies reach young and diverse markets. Cultural Outreach uses digital content, research, and training to provide professionals with the tools they need to become a trusted resource in their communities. For more information, visit http://www.culturaloutreach.com.
About Mortgage Bankers Association:
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 330,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets, to expand homeownership, and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of more than 1,900 companies includes all elements of real estate finance: independent mortgage banks, mortgage brokers, commercial banks, thrifts, REITs, Wall Street conduits, life insurance companies, credit unions, and others in the mortgage lending field. For additional information, visit MBA's website: http://www.mba.org.
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit http://www.nationalmi.com.
Media Contact
Sarah Vita, Cultural Outreach Solutions, +1 3235018798, [email protected]
SOURCE Cultural Outreach Solutions
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