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In the 12 months ending in mid-2024, Baby Boomers made up the biggest share of home buyers, according to data from the National Association of Realtors® released in April. At 42%, buyers aged 60-78 vastly outnumbered millennials, who accounted for 29% of those purchasing a home. What's more, the average age of first-time home buyers hit an all-time high of 38 last year, even as the market share commanded by first-timers hit an all-time low of 24%. And roughly 95% of buyers younger than 44 used a mortgage for their purchase, while 40-50% of those older than 60 were able to use cash. "The U.S. housing market is split into two groups: first-time buyers struggling to enter the market and current homeowners buying with cash," said Jessica Lautz, NAR’s deputy chief economist and vice president of research, in a report describing the findings.