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In a surprising market shift, baby boomers have officially overtaken millennials as the largest group of U.S. homebuyers, according to the National Association of Realtors. From July 2023 to June 2024, boomers made up 42% of home purchases—up from 31% the previous year—while millennial buyers dropped to 29%.
Millennials aren't stepping out of the picture just yet. Older millennials are becoming repeat buyers, investing in larger, newer homes and moving up the property ladder. This reflects a growing generational divide in how different age groups approach real estate.
With Gen X holding steady at 24% of home purchases and Gen Z just beginning to enter the market, the real estate landscape is evolving fast. For industry professionals and buyers alike, now is the time to stay informed and get ahead of the curve.
Ready to start the hunt for your next home? Turn to the experts at National Iron Bank to get pre-approved and be prepared to act fast.
Excerpt from Scotsman Guide
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