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The Hill
Millennials have regained their former spot as the largest group of home buyers in the United States, according to a report from the National Association of Realtors® (NAR) released Tuesday. There has been a generational tug-of-war between millennials and baby boomers for the top home-buying contingent for the past few years. Baby boomers surpassed millennials last year as the largest share of home buyers at 39%, a 10-point increase from 2022, according to NAR. Millennials now make up 38% of the home-buying market, a sizeable jump from last year's 28%, according to the report. This reversal of last year's trends comes as a surprise to some housing experts. "I had expected that because baby boomers are entering in, if not solidly in, their retirement years that they would still dominate the home buying market," said Jessica Lautz, NAR Deputy Chief Economist. Baby boomers still make up the largest percentage of home sellers at 45%, according to the report.