Baby boomers now lead in home-buying, boosted by decades of equity, while first-time buyers face record low participation amid rising costs, a new report found.
WASHINGTON — Baby boomers have surpassed millennials as the largest group of homebuyers, while first-time buyers have fallen to their lowest share since 1981, according to a new generational trends report from the National Association of Realtors.
Boomers now account for 42% of home purchases, driven largely by decades of accumulated home equity. Millennials follow at 26%, with Gen X close behind at 25%.
Many boomers are leveraging that equity
Our editorial team includes several staff writers, each contributing their specialized knowledge to enhance the depth and breadth of our event and story coverage.