Dive Brief:
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A poll of “industry insiders” by real estate site Inman predicted that Facebook could be the most effective tool for selling homes in 2015.
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The reason: Millennials, the insiders said, will drive the housing market, starting this year. The site quoted Harvard’s Joint Center for Housing Studies as saying the number of millennial households will increase by 2.7 million in the coming decade. And millennials are constantly plugged into social media sites like Facebook.
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In fact, mobile devices like smartphones and tablets are so present with young adults that those in the survey recommended a “mobile-first approach” to reaching first-time homebuyers. The insiders also pointed to a growing international market for U.S. homes, and said mobile and online marketing is also an important tool for reaching those potential buyers.
Dive Insight:
“Mobile-first” means more than simply designing a smartphone-friendly version of a traditional website. Young house hunters are relying on their phones for directions to model homes, to comparison shop and narrow down their choices, to receive contracts and price quotes, and to keep in touch with sales reps and bankers during the buying process.