Does it Feel Like Your Customers Are Getting Younger?
They are. Millennials now make up a third of buyers, NAR survey finds.
(Boonton, NJ, June 23, 2015) — Think millennials are sitting out the improving housing market? Think again.
The millennial generation — those 20 to 34 — represented the biggest share of recent buyers, according to the 2015 National Association of Realtors Home Buyer and Seller Generational Trends study.
For the second year in a row, NAR’s study found that the largest group of recent buyers was the millennial generation, who made up 32 percent of all buyers (up from 31 percent in 2013).
Boomers (ages 50 to 68) bought 31 percent of homes, while Generation X (35 to 49) bought 27 percent of homes.
The Silent Generation (ages 69 to 89) made up 10 percent of buyers in the past year.
Get ready for a flood of young buyers, says NAR Chief Economist Lawrence Yun. Millennials are entering their prime buying years, and they’ll soon pass boomers in total population.
You may download the full report at realtor.org.
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