FeaturedReal Estate News June 27, 2022

Review of NAR’s 2022 Home Buyers and Sellers Generational Trends Report

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