Baby boomers have now surpassed millennials and to make up the largest generation of home buyers, according to data from the National Association of Realtors. The data comes from their latest Home Buyers and Sellers Generational Trends Report which examined differences and similarities between varying generations of homebuyers and sellers. Millennials had long been the largest generation of homebuyers, but in 2022, they were overtaken by the baby boomers.
“Baby boomers have the upper hand in the homebuying market…The majority of them are repeat buyers who have housing equity to propel them into their dream home – be it a place to enjoy retirement or a home near friends and family. They are living healthier and longer and making housing trades later in life.” Said Dr. Jessica Lautz, NAR deputy chief economist and vice president of research.
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