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Home Buyer and Seller Generational Trends
- Gen Y comprises the largest share of home buyers at 32 percent, which is larger than all Baby Boomers combined.
- Thirteen percent of all buyers purchased a multi-generational home, one in which the home consists of adult children over the age of 18, and/or grandparents residing in the home.
- Gen Y also has the largest share of first-time buyers at 68 percent.
- At least 80 percent of buyers who are aged 59 and younger bought a detached single-family home, while it is increasingly common for buyers over the age of 59 to purchase townhouses and condos.
- Among all generations of home buyers, the first step in the home buying process is looking online for properties for sale.
- The older the home buyer, the fewer compromises the buyer tended to make with their home purchase—48 percent of the Silent Generation made no compromises on their home purchase.