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Which Age Group Is Buying All The Houses
Dated: June 7 2021
Who's Buying All The Housing Inventory?
Housing inventory is at its lowest levels in history right now across the United States...but who's buying all the homes? Out of the 5 age groups of people in the U.S. that purchase homes, the top 3 may surprise you...
Millennials (ages 22-40) have represented the LARGEST share of home buyers since 2014. These are buyers who have entered the housing market in the past decade or so. Most were not affected by the last housing market crash and many are first-time home buyers. Due to the low numbers of homes for sale combined with the large percentage of Millennial home buyers in need of housing, we don't see a slowdown in demand for homes coming any time soon.
Baby Boomers (ages 56-74) were the next largest group of buyers, often planning on staying in their homes for 20 yrs or more. These buyers are often searching for homes to spend their retirement years in. They usually sell a home while buying a home. So while it's true they're part of the buyer's market, they also tend to contribute to the seller's market and active housing inventory.
Gen Xers (ages 41-55) may be the highest earning group of buyers in the U.S., but were hit the hardest during the recession at the peak of their careers. They're ranked beneath Millennials and Baby Boomers when it comes to buying homes, but are the highest earners of the group.
The 'Silent Generation' (ages 75-95) and Gen Z (age 21 and under) represented the smallest group of home buyers in the U.S. However, the fact that Gen Z is already starting to enter the housing market is a good sign that this generation also values real estate investing and homeownership.
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Andrea is the Managing Partner of The Sandy Hartmann Group and runs the team alongside Sandy Hartmann. She would love to talk to you about real estate! Andrea was born and raised in the Tampa Bay a....
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