Senior Spotlight: Generational Housing Trends 2022
See what the latest NAR® 2022 Home Buyer and Seller Generational Trends report reveals about Baby Boomers and the Silent Generation.
The heat is on – and not just the weather! The real estate industry is exceeding projections in many areas with regards to home prices and demand expectations, and the latest National Association of Realtors® report breaks down the data by generation.
For the purposes of our Senior Spotlight, we are sharing the data pertinent to younger boomers (ages 57-66); older boomers (ages 67-75); and the silent generation (ages 76-96). To see the news release in full, please click HERE.
2022 Home Buyer & Seller Generational Trends Data Drop
- Buyers from all generations agreed about the top reasons for using an agent: they wanted help finding the right home to purchase, negotiating the terms of sale and negotiating the price.
- The silent generation – those between the ages of 76 and 96 (as well as younger millennials) were also more likely to want their agent to help with paperwork.
- Across all generations, the largest share of buyers purchased in suburban areas (51%) and small towns (20%). The majority of all generations bought single-family homes.
- The highest percentage of single-female buyers was in the silent generation at 27%.
- Boomers made up the largest share of home sellers at 42%.
- Among those 57 and older, the top reason for buying and/or selling a home is the desire to be closer to friends and family, followed by the desire for a smaller home. The largest average moving distance emerged at 35 miles for older boomers.
- Silent generation buyers expect to live in their home only 10 years.
- Younger boomers, as well as gen Xers, delayed purchasing a home for five years due to debt.
Do any of these buyer & seller statistics surprise you? Does the data of your generation coincide with your own goals and plans?
No matter where you are today or hope to be tomorrow, we hope each age & stage of your life reflects your definition of home.
Warm regards,
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
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