- Among the generations, Gen X comprises the largest group of recent home buyers, followed by Gen Y, and then younger Baby Boomers, older Baby Boomers, and the Silent Generation. The G.I. Generation represented less than 1 percent of recent buyers.
- At least 80 percent of buyers who are aged 57 and younger bought a detached single-family home, while it is increasingly common for buyers over the age of 57 to purchase townhouses and condos.
- Among all generations of home buyers the first step in the home buying process is looking online for properties for sale.
- Buyers gain many benefits from working with a real estate professional. Among age groups, younger buyers are more likely to want the agent to help them understand the process as they are more likely to have never purchased a home before.
- Older buyers are less likely to finance their home purchase in comparison to younger buyers; when they do finance, the share of the home they financed is typically smaller.
- Among the generations, Gen X is the largest group who are recent home sellers followed by both younger Baby Boomers and older Baby Boomers, the Silent Generation, and Gen Y. The G.I. Generation represented less than 1 percent of recent buyers.
- Younger sellers are more likely to use the same real estate agent or broker for their home purchase than older sellers.
Economist Jessica Lautz discusses the overview of Home Buyer and Seller Generational Trends in this 26 minute webinar. Watch the playback of the webinar.
Take this course to learn more about the characteristics of the different generations of home buyers you work with, their expectations, and their communication preferences. The course offers generation-specific marketing tools, networking tips, scripts, and counseling strategies to help you improve your business.
This two-day training program offers real estate agents the unique opportunity to learn and build key skills in counseling adults age 50+ through selling their family home, buying rental property, moving to a senior community, among many other issues. This course fulfills the training requirement for the SRES designation.