The National Association of Realtors revealed in the most recent buyers' report that millennials make up 37% of the homebuyers. Millennials (22-40 years old) make up the largest share of homebuyers in 2021.
The report breaks up the millennial generation into two groups. The older millennials who make up 23% of homebuyers range from 31-40 years old and the young millennials (ages 22-30) make up 14%. Combined this makes up the 37% reported and has not changed since 2014.
This year the report also includes Gen Z buyers for the first time. These buyers are between 18 and 21 years old and only make up around 2% of home buyers and sellers. Gen X (ages 42 - 57) comes in at 24% when it comes to buying a home. Gen X has the highest median income of $113,300 and they usually purchase the largest houses (2,100 square feet).
The oldest generation reported was the Silent Generation which is from 74 - 95 years old. This generation just purchased 5% of the homes this year. This is a small group which probably is due to the fact that this age bracket is retired. The largest group for selling homes was the Baby Boomers (ages 56 - 74) which consisted of 43% of home sellers.
If you would like to view the NAR's report which also includes characteristics of home buyers and sellers click here.
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