Millennials comprise the largest segment of home buyers in the country. Record-low mortgage rates are drawing many into homeownership lately too.

LendingTree recently analyzed mortgage purchase requests made on its site through the 50 largest metros in the country from Jan. 1 through Dec. 15, 2020, to see where millennials are most targeting in their home searches. For their study, LendingTree defined millennials as those born from 1981 to 1996.

The following markets have the largest share of purchase requests in the past year from millennials: San Jose, Calif., Boston, and Denver, according to the study. On the other hand, Las Vegas, Tampa, Fla., and Phoenix had the lowest percentage of millennials making purchase requests.

As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest.

Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to a 10.5% pace in other counties, according to data from the National Association of Home Builders.

Multifamily development in second-home markets is also on the rise. Multifamily development increased 11.1% in second-home counties while it declined by 0.9% in other areas during the third quarter, according to the NAHB.

The NAHB identified high-concentration second-home counties as those where the majority of the local housing stock is not classified as the taxpayer’s principal residence and a big portion consists of non-rental properties.

As of 2018, Americans owned about 7.4 million second homes—about 5.6% of the nation’s housing stock, according to the NAHB.

“In addition to generating a suburban shift, the COVID-19 pandemic also produced demand changes that benefited second-home communities,” the NAHB notes on its Eye on Housing blog. Many of these communities are located in less densely populated areas, such as small towns or rural areas. Nearly 70% of second-home counties are located in rural areas, the research shows.

“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area,” the NAHB notes on its blog. “More fundamentally, second-home demand may also be benefiting by an acceleration of retirement plans, as well as stock market gains.”

Business is all about relationships and showing gratitude to your peers and clients can go a long way in strengthening those relationships, particularly in a socially distant world.

“As our modern business model shifts from transactional to relationship, gratitude and appreciation emerge not only as life skills but as business skills,” writes Jamie Broderick, a business coach, for Entrepreneur.com. Making others feel valued and heard can help foster loyal relationships with your clients as well as others in the industry. It’ll also help others to want to praise you to others, possibly expanding your referral base.

Broderick says gratitude can be taught as a business skill. Even seemingly small gestures can have a big impact, she says. For example, she emphasizes the impact of handwritten thank you notes. The personal touch can stand out to others. She urges business leaders to craft more handwritten notes of thanks to their sphere.

Don’t just thank clients. She also encourages business leaders to consider thanking those who speak to your organization or who go above and beyond in some way for your business.

She says companies should have a policy in place to ensure they are continually expressing thanks throughout the year to others, which could include a small gift that also shows your appreciation—in her case, she sends a small box of tea as gifts along with thank you notes that are labeled in her brand colors. “Make thoughtful and creative gestures of appreciation part of your strategy to nurture your relationships,” she says.

Be public in your appreciation when you can too. For example, she suggests recognizing the contributions or victories of others online through social media or blog posts, or emails to subscribers of your newsletters.

Need more inspiration?

Smart Ways to Build Meaningful Connections With Clients

Use HEART in Reaching Out to Clients in the Pandemic

5 Occasions That Call for a Handwritten Note

How to Show a ‘Giving’ Versus ‘Taking’ Style to Your Business

As the pandemic rages on, owners of short-term rentals are readjusting their lease terms and hoping guests will stay longer than a few nights. Booking.com, a website for making accommodations, announced that it’s looking to introduce “extended stays,” and Airbnb has created a “monthly stay” category. Some hotels, such as Red Lion Hotels chain, are promoting extended stays, too. Certain vacation rental operators are also offering discounted long-stay plans as incentives for booking.

The number of people who consider themselves “digital nomads” has surged from 7.3 million in 2019 to 10.9 million in 2020, according to Bloomberg. Some people are using the freedom from a commute to move and buy a new home. But others are adopting a more nomadic lifestyle, looking for extended stays in rentals as an opportunity for a change of scenery. Rental operators in rural areas are noticing an uptick in demand as more workers leave urban areas, Forbes.com reports.

Property managers realize that it’s essential to offer high-speed Wi-Fi to attract extended-stay tenants. A large work desk, an ergonomic office chair, and a second monitor can also help their properties stand out. Steve Satoru Naito, co-founder and CEO of Anyplace, writes at Forbes.com that a desire is growing for properties with views of nature.

“Getting away from the city and spending time in nature is relaxing and can help with productivity, and it helps attract remote workers and nomads,” Naito writes. “Many people will choose the freedom to live their lives, relocating and working wherever they want and whenever they want, instead of staying in the same place for a long period of time. Today’s vacation rental operators will be willing to work effectively to attract nomadic clients post-COVID-19.”

Real estate leaders were forced to quickly adapt their businesses during the pandemic. They not only proved it could be done, but many had their best year for sales in more than a decade.

Here are REALTOR® Magazine’s top five stories for brokers in 2020, showing how business leaders pivoted to overcome the current realities of COVID-19 and how they are planning ahead.

1. What Will Homes Look Like in a Post-Pandemic World?

Home buyers’ needs are changing. Find out what features are at the top of their wish lists and how new housing developments are evolving.

2. 4 Tips for Navigating Property Showings During the Pandemic

As the COVID-19 risk persists, follow these four suggestions for keeping you and your clients safe.

3. What Should Stay and What Should Go Post-Pandemic

Some of the ways real estate pros have adapted during the COVID-19 era will stay with the industry long term.

4. MASK Up: Putting Safety Alongside Their Name

See the ways REALTORS® are getting creative with face coverings.

5. What Rising Home Prices Mean for Your Clients

Keep these tips in mind while advising buyers and sellers amid today’s real estate market pressures.

Americans are taking a greater interest in the aesthetics of their spaces. Share these trending stories online to connect with homeowners interested in sprucing up their spaces and help potential buyers envision their new home.

The following are the top five home design stories at REALTOR® Magazine for 2020.

1. How to Best Navigate New Color Trends

Bold, saturated colors are back after years of calm beiges, soothing grays, and varied whites dominating the interior design scene. What’s a homeowner to do?

2. A Myriad of Home Trends to Gain Momentum in 2021

As homeowners continue to stay in, avoiding the latest spikes in coronavirus numbers, many seek new ways to improve their abode’s function and aesthetics.

3. Quarantine Produces ‘Horrors’ of Home Design

REALTOR® Magazine’s Styled, Staged & Sold blog counts down some of the cringe-worthy decorative choices people are making while hunkering down at home.

4. Improvements First-Time Homeowners Should Tackle First

Owning a home is a significant financial investment for your clients. These 10 tips will help them prepare for maintenance and repair costs, too.

5. Presale Renovations Take Off

For equity-rich sellers who need more than a fluff before they put their home on the market, companies are now offering renovation management and funding.