In recent years, baby boomers have been active in the housing market, coming in at a close second to millennials as the largest generation of home buyers, while home prices have remained high and inventory conditions tightened.
The National Association of Realtors®’ 2018 Profile of Home Buyer and Seller Generational Trends identified that baby boomers are now more likely to buy homes not just for themselves—but also for their aging parents and adult kids saddled with student debt.
As baby boomers continue to grow in the market, here is how they compare to other generations of buyers:
- Second largest generation of buyers (after millennials): 32 percent
- Most likely to buy a new home: 20 percent
- Bought a single-family home: 81 percent
- Most likely to move to another region: 18 percent
- Obtained a conventional mortgage loan: 66 percent
The National Association of Realtors® is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.