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Generational Real Estate Trends


Although when talking about real estate, generalized terms such as ‘the housing market’ or ‘real estate trends,’ are used most often. Did you know, however, that trends are also grouped by different demographics, such as age, gender, race, class, etc. Today let’s take a closer look at generational real estate trends, to get a better understanding of the ways in which housing purchasing and selling trends are changing, as they reflect the changing world. 


The Silent Generation: 1925 – 1945 


The Silent Generation is composed of the most elderly people we will be discussing in this post. In 2022, the silent generation was the smallest percentage of buyers and sellers at only 4% of the market for both buying and selling. This is largely due to the fact that most people in this generation have retired and are no longer moving around or purchasing large real estate, they purchased the smallest homes at a median of 1,800 square feet. They were the generation most likely to purchase new construction, as well as most likely to purchase senior related housing. 


Baby Boomers: 1946 – 1964 


Baby boomers are traditionally broken into two categories, older and younger, as they have slightly different buying and selling patterns. Younger boomers, aged 57 to 66, were the larger portion of buyers and sellers in the market, at 17%. Older boomers, 67 to 75 accounted for 12% of the market. In general, baby boomers are most likely to purchase real estate in more rural areas and small towns. They are also more likely to purchase smaller homes and own them for longer periods of time. 


Gen X: 1965- 1979 


This generation consists of people aged 42 to 56 who also earn the highest wage out of all generations, with a median income of $125,000. This surplus of income allows them to purchase the most expensive homes as well, with a median home cost of $320,000. Gen X’ers are also the demographic with the highest marriage rates, at 64% being wed. Additionally they are the most racially and ethnically diverse, with 23% of market participants identifying as a race/ethnicity other than caucasian, non-hispanic. 


Millennials: 1980 – 1998 


In 2022, millennials were the largest portion of buyers and sellers in the market, at 43%. Similarly to the baby boomers, millennials are often split into two categories: older millennials (ages 32 to 41) and younger millennials (23 to 31). 81% of younger millennials and 48% of older millennials were first time home buyers. Younger millennials were also the most educated group, with 90% holding at least an associates degree. This demographic also purchased the most affordable real estate with median home price of $250,000. 


Gen Z: 1999 – 2011 


Currently, the majority of Gen Z are too young to legally purchase real estate, with only those aged 18 to 22 being eligible. This small portion, however, still resulted in a 2% share of the market, which is rather significant for its size, proving that the younger generation may dominate the market in only a few short years.

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