Much is said about millennials. Some say they are lazy, entitled, and overly sensitive. Others say they are aspirational, compassionate, and motivated by more than money. The one attribute everyone agrees on is youth. But by some definitions, the oldest millennials are turning 40 this year. That means millennials are growing in importance to HVAC contractors as both customers and employees.
There is no exact definition of the millennial generation. Some put the starting point at 1980, with others placing it at 1985. The end point ranges from 1995 to 2000. Either way, the population peaked in the late ‘80s, making many millennials over 30. That’s an important age for the HVAC industry. The average age of first-time homebuyers rose to 33 in 2019 from 29 in 1981, according to the National Association of Realtors. And there are a lot of them.