Baby Boomers Are Selling Their Homes and Millennials Are Buying—It's a 'Generational Tug of War,' a Top Housing Economist Says –Yahoo Finance

Yahoo Finance

It's not a battle of the sexes in the housing world: It's a battle of the generations. Millennials surpassed baby boomers as the largest generation of home buyers, totaling 38%, whereas baby boomers made up 31% of recent home buyers, according to the National Association of Realtors®' latest generational trends report. "The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers," NAR's deputy chief economist and vice president of research, Jessica Lautz, said. "This notable rise is attributed to both younger millennials stepping into homeownership for the first time and older millennials transitioning to larger homes that suit their evolving needs." Younger millennials (25 to 33 years old) made up a smaller share of home buyers for the generation, but interestingly enough, 24% of them moved directly from a family home before buying their own. Nevertheless, 75% of younger millennials and 44% of older millennials were first-time buyers.

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