Home buyer and Seller Generational Trends

This information is provided by the National Association of Realtors, posted on July 9 2013, Did you know that,

  • Among the generations, Gen X comprises the largest group of recent home buyers, followed by Gen Y, and then younger Baby Boomers , older Baby Boomers, and the Silent Generation.  The G.I. Generation represented less than 1 perent of buyers.
  • At least 80 percent of buyers who are aged 57 and younger bought a detached single-family home, while it is inreasingly common for buyers over the age of 57 to purchase townhouses and condos.
  • Among all generations of home buyers the first step in the home buying process is looking on line for properties for sale. 
  • Buyers gain many benefits from working with a real estate professional. Among age groups, younger buyers are more likely to want the agent to help them understand the process as they are more likely to have never purchased a home before.
  • Older buyers are less likely to finance their home purchase in comparison to younger buyers: when they do finance, the share of the home they financed is typically smaller.
  • Among the generations, Gen X is the largest group who are recent home sellers followed by both younger baby boomers and older Baby Boomers the Silent Generation, and Gen Y. The G.I. Generation represented less than 1 percent of recent buyers.
  • Younger sellers are more likely to use the same real estate agent or broker for their home purchase than older sellers.
Sally Walker

Sally Walker

Licensed Real Estate Salesperson
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