Home Buyer and Seller Generational Trends | www.nar.realtor
Since 2013, the National Association of REALTORS® has been writing the Home Buyers and Sellers Generational Trends Report. This report provides insights into differences and similarities across generations of home buyers and home sellers. The home buyer and seller data is taken from the annual Profile of Home Buyers and Sellers.
- Millennials are the largest share of home buyers at 36 percent. Sixty-five percent of these buyers were also first-time home buyers.
- Gen Xers consists of 26 percent of recent home buyers. They are the most racially and ethnically diverse population of home buyers, with 26 percent identifying they are a race other than White/Caucasian.
- Younger Baby Boomers consist of 18 percent of recent buyers. They have higher median household incomes and are more likely to have children under the age of 18 in their home.
- Older Baby Boomers consist of 14 percent of recent buyers. They typically move the longest distance at a median of 30 miles and are less likely to make compromises on their home purchase.
- The Silent Generation are 6 percent of recent buyers. They are least likely to purchase a detached single-family home. Twenty-eight percent purchased in senior-related housing and they tend to purchase the newest homes.
- All generations of buyers continue to consult a real estate agent or broker to help them buy and sell their home.