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Zillow's new website aims at first-time, millennial homebuyers

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Posted at 9:41 AM, May 11, 2017
and last updated 2017-05-11 09:41:47-04

While millennials get stereotyped as being uninterested in buying a home, new data shows that trend is changing. 

That’s why online real estate database Zillow is jumping in with a new website geared toward first-time homebuyers.

Zillow’s Consumer Trend Report shows that millennials make up 42 percent of buyers and 56 percent of first-time buyers. 

Cincinnati’s number of available homes has dropped 15 percent since last year, Zillow says, meaning millennials could use any help they can get to close the deal on that first home.

RELATED: Millennials-oriented home-buying app Casamatic rebuilds model to become tool for real estate agents

Business Insider reports that Zillow’s new site, RealEstate.com, "is unique in that it allows buyers to clearly see their all-in monthly cost, which you can adjust according to your budget and how much you've been able to save for a down payment.” 

Listings also show fees that first-time homebuyers might not know to factor in, such as homeowners association fees and private mortgage insurance.

The website includes traditional homebuying tools, such as photos, maps and filters by square footage and bedroom count, as well as first-time buyer's guides that detail all of the steps to be prepare for a home purchase.