As we move into 2019, this home buyer snapshot from 2018 will help real estate and mortgage marketers pick the right mailing lists for their properties and utilize the right photos, offer and verbiage for each particular segment.
- Millennials are the largest share of home buyers at 36 percent. Sixty-five percent of these buyers were also first-time home buyers.
- Gen Xers consists of 26 percent of recent home buyers. They are the most racially and ethnically diverse population of home buyers, with 26 percent identifying they are a race other than White/Caucasian.
- Younger Baby Boomers consist of 18 percent of recent buyers. They have higher median household incomes and are more likely to have children under the age of 18 in their home.
- Older Baby Boomers consist of 14 percent of recent buyers. They typically move the longest distance at a median of 30 miles and are less likely to make compromises on their home purchase. They are also buyers of part-time residences.
- The Silent Generation are 6 percent of recent buyers. They are least likely to purchase a detached single-family home. Twenty-eight percent purchased in senior-related housing and they tend to purchase the newest homes.
- All generations of buyers continue to consult a real estate agent or broker to help them buy and sell their home
This is from the 2018 National Association of Realtors Home Buyers & Sellers Generational Trends Report