Generational trends: Home buyers and sellers
NAR’s Home Buyers and Sellers Generational Trends Report provides insights into buyer and seller demographics and preferences. The 2022 report notes some shifts in characteristics among these groups.
Millennials made up the largest share of homebuyers at 43%, and it’s now more likely for an older millennial, with a median age of 36, to be first-time seller than a first-time buyer.
While younger millennials, ages 23 to 31, use tech tools, they’re also the most likely to use an agent in the home-buying and selling process.
Gen X is the most racially diverse group, with 23% identifying as Hispanic/Latino, Black/African American or Asian/Pacific Islander.
Younger millennials are the least likely to identify as heterosexual: 9% identify with another orientation.
Boomers move the farthest, mainly to be closer to family and friends, and are more likely to downsize.