The Millennials are currently the generation that makes up most first-time homebuyers, and they’ve certainly been looking for homes with home offices so they can work from home, or extra rooms for their young kids. But there are also many Millennials that already own a home, and they’re probably aiming for the same thing. They will also want to make sure the home has a layout suitable to their needs.
For those Millennials that aren’t first-time buyers, it’s likely they’ll want to upsize. Even though they’re likely rather cash-poor due to the economic circumstances both in their early adulthood and now, some of them may have good equity in their homes because home prices are so high right now. That could help them to purchase something larger by selling their current home.