Generation Y Homeowners

Hopefully, the market will trend towards more pedestrian oriented neighborhoods and reduce reliance on gas and automobiles. I wish I would have bought when I was younger. All those years of rent wasted on nothing.

Generation Y

'Their Gen-Y clients tend to prefer new homes and are shopping for incentives offered by homebuilders. "They're always looking for the best deal," Juarez said.

But if an older property is retrofitted and wired, Burdick said, it can be appealing.

"Location is very important to this group," she said. "They like light rail and public transportation and walking where they want to be. They value their recreational time, and they don't want to be home mowing lawns."

Gen-Y also doesn't shy away from spaces as small as 500 square feet.

"They're really into organization and multifunction of furniture," Burdick said. "You see a lot of Murphy beds, and they like multifunctional rooms."'