In a shift that highlights just how quickly market dynamics can evolve, baby boomers have officially overtaken millennials as the largest group of home buyers in the U.S.
According to the National Association of Realtors® 2025 Home Buyers and Sellers Generational Trends Report, baby boomers—both younger (ages 60–69) and older (ages 70–78)—accounted for 42% of all home buyers over the past year. Millennials, long considered the driving force in the market, dropped to 29%, while Generation X held steady at 24%.
So, what’s fueling this trend?
💵 Boomers Are Buying with Cash
The biggest differentiator? Purchasing power. Many boomers are bypassing traditional financing altogether—half of older boomers and 2 in 5 younger boomers paid in all cash.
Compare that to younger buyers: Over 90% of buyers aged 44 and under financed their home purchases. That’s a significant number, and of that group, 27% of younger millennials and 13% of older millennials relied on gifts from family or friends to help with down payments.
🏠 First-Time Buyers Are Shrinking
First-time buyers now make up just 24% of all home purchases, down from 32% last year. Younger millennials are still the most likely to be first-time buyers (71%), while older millennials are more frequently repeat buyers.
This reflects a larger trend: equity is power in today’s market. Buyers with existing home equity are better positioned to make competitive offers, especially with rising interest rates and tighter affordability.
🧓 Gen X Balances It All — And Buys Bigger
Gen X buyers (ages 45–59) continue to lead in household income, with a national median of $130,000, and are most likely to purchase multigenerational homes.
In fact, 17% of all buyers chose multigenerational living—up from 14% last year. Gen X led the way (21%), followed by younger boomers (15%). Gen Xers are working hard to meet the needs of aging parents and adult children, often under one roof.
🔁 Buyers Still Rely on Real Estate Agents
Across the board, 88% of home buyers worked with a real estate agent, with younger millennials (90%) being the most likely to do so. Referrals remain key, especially among younger buyers, who are more likely to find their agent through friends or family.
And the satisfaction is clear: 88% of all buyers said they’d work with their agent again, rising to 91% for Gen X and 93% for the Silent Generation.
🏡 Sellers: Boomers Dominate Again
On the selling side, baby boomers also lead, making up 53% of all home sellers. They’re typically staying in their homes longer too:
- Older boomers: 16 years
- Younger millennials: just 5 years
Interestingly, younger millennial sellers saw the strongest returns, with 27% selling for 101–110% of their list price, and 13% selling for even more.
💡 What This Means for You – The Buyers and Sellers
These generational shifts tell us a lot about the real state of housing today:
- Cash is king, but not everyone can play that game.
- Equity is opening doors for repeat buyers.
- Younger buyers still rely heavily on financing and family support.
- Real estate agents remain an essential guide, especially in competitive or complex transactions.
If you're navigating these trends, whether you're a buyer or seller,, staying informed is your best advantage – that is what I am trying to help you with.
📩 Let’s connect if you want to talk about strategy, timing, or how to best position yourself in today’s market.
