WTOP News

The share of baby boomer-age homebuyers has surpassed millennial buyers, and boomers are now dominating the D.C.-area housing market too.

Nationally, baby boomers accounted for 42% of sales in March, while millennials accounted for 29%, in what the National Association of Realtors® calls “a plot twist” for the housing market. The drop in the share of millennial buyers is notable, down from 38% of sales just a year ago.

Older boomers buying have been in their current home an average of 16 years, longer than any other generation of seller.

Boomer buyers are also less sensitive to prices and mortgage rates, with half of older boomers and two-out-of-five younger boomers purchasing homes entirely with cash, according to the National Association of Realtors®.

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