Home Buyers and Sellers Generational Trends
Since 2013, the National Association of REALTORS® has produced the Home Buyers and Sellers Generational Trends Report. This report provides insights into differences and similarities across generations of home buyers and sellers. The home buyer and seller data is taken from the annual Profile of Home Buyers and Sellers. Some of the findings this year include:
- Millennials made up the largest share of home buyers at 43%; boomers made up largest share of home sellers at 42%; Gen Z made up 2% of each. It is now more likely for an older millennial to be first-time seller than a first-time buyer.
- Gen X had the highest incomes (it also had the highest share of married couples, thus more dual income), and bought the most expensive and second-largest homes; they were also the most likely to purchase multi-generational homes.
- Gen X were most racially/ethnically diverse group: 23% identify as a race other than White; younger millennials least likely to identify as heterosexual: 9% identified with another orientation.
- Millennials were the most educated: 90% of younger millennials had at least an associate degree.
- Boomers moved furthest distances, primarily to be closer to family and friends, and were more likely to downsize.
- Young millennials use tech but are the most likely to use an agent in the purchase process and most likely to use an agent to sell their home.
- The silent generation were the most likely to move to be closer to family and purchased the smallest homes; they also had the highest percentage of military veterans.
- Gen X and younger boomers delayed their home purchase the longest (5 years) due to debt.
This two-day training program offers real estate agents the unique opportunity to learn and build key skills in counseling adults age 50+ through selling their family home, buying a rental property, moving to a senior community, among many other issues. This course fulfills the training requirement for the SRES designation.