Half of the HVAC contractors who responded to a recent survey by EGIA said they don’t market to millennials. I guess they don’t see the point of marketing to kids who live in their parents’ basements. Except millennials aren’t kids anymore, and they no longer live in their parents’ basements. In fact, millennials are buying homes at a rapid clip.
The most recent data from the Census Bureau shows about 40% of millennials own their homes. And that number is growing fast. At the start of the year, Realtor.com forecasted that millennials’ share of mortgage originations would surpass 50%, outnumbering Gen X and Baby Boomers combined. If anything, that number likely rose. Record-low mortgage rates and a desire to move out of the cities led to more homes being sold in the second half of the year than in the first.