Posts from June 24th, 2024

In honor of National Homeownership Month, we wanted to share a few interesting statistics from the National Association of Realtors research team with you. These statistics come from a survey sent to buyers who purchased a primary residence home between July 2022 & June 2023.

Who is buying & why?

Millennials (ages 25-43) made up the largest share of home buyers at 38% and the median age of a first-time home buyer was 35 years old.

Gen X (ages 44-58) were more likely to buy multi-generational homes to help care for aging parents (27%) or for cost savings (22%). Other top reasons to buy a multi-generational home include having children or relatives over 18 moving back into the house, spending more time with aging parents, and having children or relatives over 18 who never left home.

For home buyers under 59 years old, the main reason for purchasing was the desire to own a home of their own or because they wanted a larger hom...

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