What is the generational makeup of today’s home buyers? National Association of REALTORS data shows that “39% of home buyers are Baby Boomers, while only 28% were Millennials.”*
Baby Boomers include people born after the end of World War 2 (ages 57 through 76). NAR also revealed interesting findings including that half of older Baby Boomers who purchased homes were purchasing all-cash without a loan! These all-cash purchases from Baby Boomers are the results of their dramatic increase in home equity from when they first bought their home to today.
Today’s repeat home buyer is getting older though: gone are the days of the repeat home buyer being in their mid-thirties. Now, the median age of the typical repeat home buyer is almost 60 years old! As Gen Z and Millennials struggle to enter a competitive real estate market, Baby Boomers are thriving and moving into homes that best suit them. In 1981, the typical repeat home buyer was 36 years old — today that home buyer is 59 years old.
KALEO agents can help Baby Boomers with a successful sale. Our agents’ listing package maximizes your sales price with professional photography, marketing, pre-listing clean up tips, staging, and other features so that you walk away with the most money in your pocket for your next property purchase.
If you are a Gen Z or Millennial Home Buyer having a hard time figuring out when the timing is right for you to buy, give a KALEO agent a call! A KALEO agent would love to walk you through how they help home buyers from the initial idea of “I should buy a home” to having keys in hand.
*SOURCE: https://www.realtor.com/news/trends/millennials-are-losing-the-home-buying-edge-to-baby-boomers/
