Millennials Reclaim Position as Largest Group of Home Buyers
Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®.
- Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®.
- “The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers,” said Dr. Jessica Lautz, NAR deputy chief economist and vice president of research.
- Leading the charge were younger millennials, whose proportion of first-time buyers increased from 70% to 75% over the past year.
- Forty-four percent of older millennials and 24% of Generation X (ages 44-58) were first-time buyers.