Here are 9 insights from NAR’s 2022 Home Buyer and Seller Generational Trend report that we wanted to share with you:
- First-time buyers made up 34% of all home buyers, up from 31% last year
- 60% percent of buyers were married, 19% were single females, 9% were single males, and 9% were unmarried couples
- 31% percent of buyers had children under 18 living at home
- 11% of buyers purchased a multigenerational home to care for & spend time with aging parents
- Baby Boomers make up the largest share of sellers at 42%
- 7% of buyers financed their home purchase
- 45% of Younger Millennials (ages 23-31) reported having student loans with a median loan balance of $28,000
- Gen Xers (ages 42-56) were the most racially diverse buyers in 2021 — 23% identified as Hispanic, Black, or Asian/Pacific Islander
