2025HomeBuyersandSellers

GenerationalTrendsReport

NationalAssociationofREALTORS?

ResearchGroup

2

2025NARHomeBuyersandSellersGenerationalTrends

KevinSears,AHWD,C2EXPresident

KevinBrown,AHWD,C2EXPresident-Elect

CraigW.Sanford,GRITreasurer

JenniferBranchini,ABR?,CRS,AHWD,C2EX,e-PRO?,PSAVicePresidentofAssociationAffairs

SaraLipnitz,SFR?,PMN

VicePresidentofAdvocacy

2025NARLeadership

Team

VinceMalta,CIPS,C2EX

LeadershipTeamMember

NykiaWright

ChiefExecutiveOfficer

LawrenceYun,Ph.D.

ChiefEconomistandSeniorVicePresident

JessicaLautz,Dr.ofRealEstate

DeputyChiefEconomistandVicePresident,Research

BrandiSnowden

Director,MemberandConsumerSurveyResearch

MeredithDunn

ResearchManager

SidneeHolmes

NARResearchStaff

ResearchAssociate

AmethystMarroquinResearchAssistant

3

2025NARHomeBuyersandSellersGenerationalTrends

2025HomeBuyersandSellers

GenerationalTrendsReport

Introduction5

Chapter1:CharacteristicsofHomeBuyers10

Chapter2:CharacteristicsofHomesPurchased

30

Chapter3:TheHomeSearchProcess48

Chapter4:HomeBuyingandRealEstateProfessionals58

Chapter5:FinancingtheHomePurchase73

Chapter6:HomeSellersandTheirSellingExperience90

Chapter7:HomeSellingandRealEstateProfessionals116

Methodology129

4

2025NARHomeBuyersandSellersGenerationalTrends

5

Introduction

2025HomeBuyersandSellersGenerationalTrendsReport

AGEOFHOMEBUYERSANDSELLERS

OlderMillennials

1980-1989

GenZ

1999to2011

YoungerBoomers

1955-1964

SilentGeneration

1925-1945

1920

2025

OlderBoomers

1946-1954

GenX

1965-1979

YoungerMillennials

1990-1998

6

2025NARHomeBuyersandSellersGenerationalTrends

SHAREOFBUYERSANDSELLERSBYGENERATION

GenZers:

YoungerMillennials:

OlderMillennials:

GenXers:

YoungerBoomers:

OlderBoomers:

SilentGeneration:

BuyersSellers

3%

2%

12%

5%

17%

14%

24%

22%

26%

16%

22%

4%

5%

31%

5%

0%

15%

20%

25%

30%

35%

10%

7

2025NARHomeBuyersandSellersGenerationalTrends

Introduction

Since2013,theNationalAssociationofREALTORS?hasproducedtheHomeBuyersandSellersGenerationalTrendsReport.Thisreport

providesinsightsintodifferencesandsimilaritiesacrossgenerationsof

homebuyersandsellers.ThehomebuyerandsellerdataistakenfromtheannualProfileofHomeBuyersandSellers.

Thisyear,theshareofGenZbuyersandsellersaged18to25madeupjust

threepercentofbuyersandtwopercentofsellers.Whiletoosmallto

showalluniquecharacteristics,therearenotabletrends.Theyareenteringhomeownershipwiththelowesthouseholdincomes,andtheyareunlikelytobemarriedyetortohavechildrenundertheageof18intheirhome.

LikeYoungerMillennials,theypurchaseolderhomesthanotherbuyers.

Millennialbuyers26to34years(YoungerMillennials)andbuyers35to44

years(OlderMillennials)makeup29percentofrecenthomebuyers;OlderMillennialsat17percent,andYoungerMillennialsat12percentoftheshareofhomebuyers.Seventy-onepercentofYoungerMillennialsand36

percentofOlderMillennialswerefirst-timehomebuyers.Sixty-sixpercentofOlderMillennialsweremarriedcouples,whileYoungerMillennialshadthehighestshareofunmarriedcouples(13percent)buyinghomes.

YoungerMillennialsarethemosteducatedgroup,with78percent

holdingatleastabachelor’sdegreeorhigher.Twenty-fivepercentof

YoungerMillennialsmoveddirectlyfromafamilymember’shomebeforebuying.Conveniencetotheirjobandcommutingcostswerebothmoreimportanttobuyersinthisgroup.

Buyers45to59(GenXers)consistedof24percentofrecenthomebuyers.Thisgrouphadthehighest-earninghomebuyers,withamedianincomeof$130,000in2023.Withthisextraincome,buyers45to59purchasedthelargesthomes,alongwithYoungerMillennialsatamedianof2,000squarefeet.Sixty-sixpercentoftheirrecenthomebuyersaremarriedcouples,

providingthemwithdualincomes.GenXbuyerswerethemostlikelyto

purchaseamulti-generationalhomeat21percentandwerethemost

likelytopurchasewiththedesireforahomeinabetterarea.Buyers45to59yearsremainoneofthemostraciallyandethnicallydiversepopulationsofhomebuyers,with25percentidentifyingasaraceotherthan

White/Caucasian.

Forthereport,buyers60to69(YoungerBabyBoomers)andbuyers70to78(OlderBabyBoomers)werebrokenintotwoseparatecategoriesastheyhavedifferingdemographicsandbuyingbehaviors.Buyers60to69

consistedof26percentofrecentbuyersandbuyers70to78consistedof16percentofrecentbuyers.BabyBoomerspurchasedforanarrayof

reasons,primarilythedesiretobeclosertofriendsandfamily,dueto

retirement,andthedesireforasmallerhome.YoungerBoomerswerethemostlikelytopurchaseinasmalltown,andOlderBoomerswerethemostlikelytopurchaseinasuburb/subdivision.YoungerBoomersexpectto

owntheirhomesforthelongestperiodoftimeat20years,andYoungerandOlderBoomerspurchasedhomesthatweretypicallybuiltin1999.

Buyers60andoldertypicallymovedthefurthestdistanceatamedianof35miles.

8

2025NARHomeBuyersandSellersGenerationalTrends

Introduction

Buyers79to99(TheSilentGeneration)representedoneofthesmallestsharesofbuyersatjustfourpercent.Asalargepercentageofthese

buyerswerelikelytohaveretiredfromtheworkforce,theyhadthe

lowestmedianhouseholdincome,homes,andpurchasedthesecond

smallesthomesatamedianof1,700squarefeet.Theytypically

purchasetobeclosertofriendsandfamily.Buyers79to99weremostlikelytopurchaseinsenior-relatedhousingat27percent.Theywere

morelikelythanyoungergenerationstopurchasenewconstructionat14percent.Theyweremorelikelythanotherstochooseaneighborhoodbasedonconveniencetohealthfacilities.Thisagegroupalsohadthe

highestpercentageofmilitaryveteransat35percent.SilentGenerationbuyerswereleastlikelytomakecompromisesontheirpurchased

homesandhadashortersearchlengthatamedianofeightweeks.

Buyerscontinuetofinancetheirhomepurchases,similartoyearspast.Seventy-fourpercentofhomebuyersfinancedtheirhomepurchase—asharethatdecreasesasthebuyer’sageincreases.Youngerbuyers

continuetodependonsavingsfortheirdownpayment,whileolder

buyersuseproceedsfromthesaleoftheirpreviousresidence.Thirty-

threepercentofYoungerMillennialsreceiveddownpaymenthelpin

theformofagiftoraloanfromafriendorrelative.OlderBoomersweretypicallydelayedthelongestfromsavingtowardstheirdownpaymentduetodebtatamedianof10years.Buyersoverallweredelayed

primarilybyhighrentalcosts,creditcarddebt,andstudentloans.In

fact,43percentofYoungerMillennialsreportedhavingstudentloan

debtwithamedianloanbalanceof$30,000,comparedto29percentof

OlderMillennialswithamedianof$35,000.Whileonlyfivepercentof

OlderBoomershadstudentloandebt,theyhadamedianbalanceof

$22,000.Thismaybeduetonotonlytheirpersonaleducationalloans,

butalsoaccumulatingdebtfromtheirchildren’seducationloans.Itwasmostcommonforbuyerstocutspendingonluxury/non-essentialitemsandentertainmenttosavefortheirhomepurchases.

BabyBoomersmakeupthelargestshareofsellersat53percent.Sellers79to99yearsweremostlikelytodownsizeinthesizeoftheirhome.

BabyBoomersandtheSilentGenerationaresellingtomoveclosertofriendsandfamilyorbecausetheirhomesaretoolarge,while

Millennialsaresellingbecausetheirhousesaretoosmallorduetoajobrelocation.OlderBoomerstypicallyownedtheirhomesfor16years

beforeselling.

Realestateagentsandbrokersremainthetophomebuyingand

sellingresourceforallgenerations.Whiletheinternetisbeingutilizedthroughoutthehomesearch,buyerscontinuetoneedthehelpofa

realestateprofessionaltohelpthemfindtherighthome,negotiate

termsofsale,andhelpwithpricenegotiations.Agentsremainthe

mostusedinformationsourceinthehomesearch,followedbymobileortabletsearchdevices.Sellersalsoturnedtoprofessionalstoprice

theirhomescompetitively,helpmarkettheirhomestopotential

buyers,sellwithinaspecifictimeframe,andfindwaystofixuptheirhomestosellthemformore.

9

2025NARHomeBuyersandSellersGenerationalTrends

Chapter1

CharacteristicsofHomeBuyers

10

2025NARHomeBuyersandSellersGenerationalTrends

CharacteristicsofHomeBuyers

。At42percent,thecombinedshareofYoungerandOlderBoomersmadeupthelargestgenerationalgroupofbuyers.GenXfollowedthemat24percent,withamedianageof52.

。First-timebuyersmadeup24percentofallhomebuyers,adecreasefrom32percentlastyear.Seventy-onepercentofYoungerMillennials,62percentofGenZ,and36percentofOlderMillennialswerefirst-

timehomebuyers.

。GenXershadthehighesthouseholdincomesofanygeneration,at$130,000in2023,followedbyOlderMillennialswithamedian

householdincomeof$127,500.

。Sixty-twopercentofrecentbuyersweremarriedcouples,20percentweresinglefemales,eightpercentweresinglemales,andsixpercentwereunmarriedcouples.Thehighestpercentageofsinglefemale

buyerswasamongGenZat30percent.Thehighestshareof

unmarriedcoupleswasamongYoungerMillennialsat13percent.

。Twenty-sevenpercentofallbuyershadchildrenundertheageof18livingathome,and67percentofOlderMillennialshadatleastonechildundertheageof18livingathome.

。Seventeenpercentofhomebuyerspurchasedamulti-generationalhomeforcostsavingstotakecareofandspendtimewithaging

parents,andbecausechildrenovertheageof18weremovingbackintothehome.Twenty-onepercentofGenXerspurchasedamulti-generationalhome.YoungerBoomerscomprisedthesecondlargestshareat15percent.

。OlderMillennials,YoungerMillennials,andGenXerswerethemost

raciallydiversegroupsofbuyersin2024.Twenty-ninepercentofOlderMillennials,and25percentofbothYoungerMillennialsandGenX

buyersidentifiedasHispanic/Latino,Black/AfricanAmerican,

Asian/PacificIslander,orOther.

。YoungerMillennialsarethemosteducatedgroup,with78percentholdingatleastabachelor’sdegreeorhigher.Thenextmost

educatedgroupwereOlderMillennials.

。Themostcommonreasonsforrecentlypurchasingahomevaryby

generation.Forallhomebuyers59oryounger,themainreasonfor

purchasingremainsthedesiretoownahomeoftheirown.Among

buyers60andolder,thedesiretobeclosertofriendsandfamilywasthetopreasontopurchase,followedbythedesireforasmallerhome.

11

2025NARHomeBuyersandSellersGenerationalTrends

12

2025NARHomeBuyersandSellersGenerationalTrends

CharacteristicsofHomeBuyers

Exhibit1-1

Exhibit1-2

Exhibit1-3

Exhibit1-4

Exhibit1-5

Exhibit1-6

Exhibit1-7

Exhibit1-8

Exhibit1-9

Exhibit1-10

Exhibit1-11

Exhibit1-12

Exhibit1-13

Exhibit1-14

Exhibit1-15

Exhibit1-16

Exhibit1-17

?HOMEPURCHASEDWASAMULTI-GENERATIONALHOME(WILLHOMEADULTSIBLINGS,ADULTCHILDREN,PARENTS,AND/ORGRANDPARENTS)

?HOMEBUYERIDENTIFIESASTRANSGENDER

?HOMEBUYERSEXUALORIENTATION

?RACE/ETHNICITYOFHOMEBUYERS

?HOMEBUYEREDUCATION

?PRIMARYLANGUAGESPOKENINHOMEBUYERHOUSEHOLD

?NATIONALORIGINOFHOMEBUYERS

?SELFORSPOUSE/PARTNERISACTIVEMILITARYORVETERAN

?FIRST-TIMEHOMEBUYERSINAGEGROUP

?PRIORLIVINGARRANGEMENT

?PRIMARYREASONFORPURCHASINGAHOME

?PRIMARYREASONFORTHETIMINGOFHOMEPURCHASE

?OTHERHOMESOWNED

?HOUSEHOLDINCOMEOFHOMEBUYERS

?ADULTCOMPOSITIONOFHOMEBUYERHOUSEHOLDS

?NUMBEROFCHILDRENUNDERTHEAGEOF18RESIDINGINHOUSEHOLD

?AGEOFHOMEBUYERS

AGEOFHOMEBUYERS

Exhibit1-1(PercentageDistribution)

MedianAgeinGroup

GenZers:18to25years

YoungerMillennials:26to34years

OlderMillennials:35to44years

GenXers:45to59years

YoungerBoomers:60to69years

OlderBoomers:70to78years

SilentGeneration:79to99years

22

31

40

52

65

73

81

3%

12%

17%

24%

26%

16%

4%

%5%10%15%20%25%30%

Note:Buyers18to24yearsonlymadeuponlythreepercentoftheshareofallbuyers.TheywerenotincludedInallchartsinchapters1through5onhomebuyersduetothelownumberofresponsesforanalysis.

13

2025NARHomeBuyersandSellersGenerationalTrends

HOUSEHOLDINCOMEOFHOMEBUYERS

Exhibit1-2(PercentageDistribution)

AGEOFHOMEBUYER

AllBuyers

18to25

26to34

35to44

45to59

60to69

70to78

79to99

Lessthan$25,000

3%

4%

1%

1%

2%

5%

3%

3%

$25,000to$34,999

3

7

1

1

1

5

7

7

$35,000to$44,999

4

7

3

3

2

5

5

9

$45,000to$54,999

6

7

7

3

5

6

7

9

$55,000to$64,999

6

9

6

4

4

7

8

10

$65,000to$74,999

7

7

6

8

4

7

11

5

$75,000to$84,999

7

10

8

6

5

7

9

10

$85,000to$99,999

9

14

12

8

9

8

12

5

$100,000to$124,999

15

16

18

15

16

13

13

13

$125,000to$149,999

10

11

9

10

10

10

7

9

$150,000to$174,999

8

2

7

9

11

7

5

4

$175,000to$199,999

6

2

7

7

8

4

3

3

$200,000ormore

19

1

15

26

23

16

10

14

Medianincome(2023)

$108’800

$84’000

$108’300

$127’500

$130’000

$100’000

$85’000

$82’000

14

2025NARHomeBuyersandSellersGenerationalTrends

ADULTCOMPOSITIONOFHOMEBUYERHOUSEHOLDS

Exhibit1-3(PercentageDistribution)

uMarriedcoupleuSinglefemaleuSinglemaleuUnmarriedcoupleuOther

80%

66%66%

62%

63%

60%

60%

60%

56%

40%

39%

30%

25%

27%

20%

17%

18%

18%

20%

15%

20%

13%

10%

10%

9%

8%

8%

8%

8%

10%

6%

6%

5%4%

5%

4%

4%

3%

3%

3%

6%2%

2%

2%

0%

AllBuyers18to2526to3435to4445to5960to6970to7879to99

15

2025NARHomeBuyersandSellersGenerationalTrends

16

2025NARHomeBuyersandSellersGenerationalTrends

NUMBEROFCHILDRENUNDERTHEAGEOF18RESIDING

INHOUSEHOLD

Exhibit1-4(PercentageDistributionofHouseholds)

100%

80%

60%

40%

20%

0%

NoneOneTwoThreeormore

94%

93%

97%

73%

75%

68%

59%

33%

28%

23%

18%

16%

16%

19%

12%10%

14%

9%

11%

5%

5%

4%2%1%

4%2%

1%1%*5%1%1%

AllBuyers18to2526to3435to4445to5960to6970to7879to99

*Lessthan1percent

HOMEPURCHASEDWASAMULTI-GENERATIONALHOME

(WILLHOMEADULTSIBLINGS,ADULTCHILDREN,PARENTS,AND/ORGRANDPARENTS)

Exhibit1-5(PercentofRespondents)AGEOFHOMEBUYER

AllBuyers26to3435to4445to5960to6970to7879to99

Multi-generationalhousehold17%7%12%21%15%13%21%

Reasonsforpurchase:

CostSavings

36

42

33

22

10

12

19

Health/Caretakingofagingparents

25

31

35

28

29

35

29

Children/relativesover18movingbackintothehouse

21

11

17

28

24

20

14

Children/relativesover18neverlefthome

20

4

16

29

16

9

5

Tospendmoretimewithagingparents

18

32

32

12

6

5

5

Wantedalargerhomethatmultipleincomescouldaffordtogether

13

18

10

7

8

8

12

Noneoftheabove

18

16

17

14

21

27

33

Other

6

7

4

7

9

3

5

*Lessthan1percent

17

2025NARHomeBuyersandSellersGenerationalTrends

HOMEBUYERIDENTIFIESASTRANSGENDER

Exhibit1-6(PercentageDistribution)

100%

80%

60%

40%

20%

0%

uIdentifyastransgenderuDonotidentifyastransgenderuPrefernottoanswer

99%97%98%99%99%99%100%98%

2%

1%

1%

1%

*

*

*

*

*

*

*

*

*

*

3%*

AllBuyers18to2526to3435to4445to5960to6970to7879to99

*Lessthan1percent

18

2025NARHomeBuyersandSellersGenerationalTrends

HOMEBUYERSEXUALORIENTATION

Exhibit1-7(PercentageDistribution)

AGEOFHOMEBUYER

AllBuyers

18to25

26to34

35to44

45to59

60to69

70to78

79to99

Heterosexualorstraight

88%

87%

84%

89%

90%

88%

91%

94%

Gayorlesbian

3

1

4

4

3

3

1

1

Bisexual

2

5

5

2

1

1

*

*

Prefertoself-describe

1

2

1

*

1

1

*

*

Prefernottoanswer

6

4

5

4

5

7

8

5

*Lessthan1percent

19

2025NARHomeBuyersandSellersGenerationalTrends

RACE/ETHNICITYOFHOMEBUYERS

Exhibit1-8(PercentofRespondents)

AGEOFHOMEBUYER

AllBuyers

18to25

26to34

35to44

45to59

60to69

70to78

79to99

White/Caucasian

83%

79%

81%

77%

79%

85%

91%

94%

Black/African-American

7

8

7

10

10

5

3

3

Hispanic/Latino

6

9

10

8

7

5

3

2

Asian/PacificIslander

4

5

6

7

5

3

1

2

Other

3

2

2

4

3

3

2

*

*Lessthan1percent

Note:Respondentswerepermittedtoselectasmanyracesandethnicitiesastheyfeltapplicable.

Thepercentagedistributionmaythereforesumtomorethan100percent.

20

2025NARHomeBuyersandSellersGenerationalTrends

HOMEBUYEREDUCATION

Exhibit1-9(PercentageDistribution)

AGEOFHOMEBUYER

AllBuyers18to2526to3435to4445to5960to6970to7879to99

Lessthanhighschool1%1%1%1%1%1%*1%

Highschooldiploma1824111518211823

Associate'sdegree141991213171816

Bachelor'sdegree2941413030282220

Somegraduatework613566711

sdegree/MBA/law2510242925222722

Doctoraldegree741087586

*Lessthan1percent

21

2025NARHomeBuyersandSellersGenerationalTrends

PRIMARYLANGUAGESPOKENINHOMEBUYER

HOUSEHOLD

Exhibit1-10(PercentageDistribution)

EnglishOther

100%

80%

60%

40%

20%

0%

99%

98%

97%

97%

96%

96%

96%

98%

3%4%4%3%4%2%2%1%

AllBuyers18to2526to3435to4445to5960to6970to7879to99

22

2025NARHomeBuyersandSellersGenerationalTrends

NATIONALORIGINOFHOMEBUYERS

Exhibit1-11(PercentageDistribution)

100%

80%

60%

40%

20%

0%

BorninU.S.NotborninU.S.

94%

93%

94%

91%

91%

93%

88%

90%

10%

9%7%

9%

12%

6%

7%6%

AllBuyers18to2526to3435to4445to5960to6970to7879to99

23

2025NARHomeBuyersandSellersGenerationalTrends

ACTIVEMILITARY/VETERANS

Exhibit1-12(PercentageDistribution)

100%

80%

60%

40%

20%

0%

uActiveintheArmedForcesaVeteranuNeither

87%

86%84%83%

89%

82%

76%

65%

35%

24%

16%

15%

17%

11%

11%

7%

4%

4%

2%

1%

2%***

AllBuyers18to2526to3435to4445to5960to6970to7879to99

*Lessthan1percent

24

2025NARHomeBuyersandSellersGenerationalTrends

FIRST-TIMEHOMEBUYERSINAGEGROUP

Exhibit1-13(PercentageDistribution)

80%

60%

40%

20%

0%

71%

36%

24%

20%

9%

5%

4%

AllBuyers26to3435to4445to5960to6970to7879to99

25

2025NARHomeBuyersandSellersGenerationalTrends

PRIORLIVINGARRANGEMENT

Exhibit1-14(PercentageDistribution)

AGEOFHOMEBUYER

AllBuyers

26to34

35to44

45to59

60to69

70to78

79to99

Ownedprevioushome

61%

25%

49%

58%

73%

86%

87%

Rentedanapartmentorhouse

27

49

36

31

20

9

6

Livedwith

parents/relatives/friends,paidrent

Livedwith

parents/relatives/friends,didnotpayrent

5

4

13

12

8

4

3

3

3

3

2

2

3

3

Rentedthehomeultimatelypurchased

2

2

3

4

1

1

1

Note:Aftersellingtheirprevioushome,buyersmayhaverentedahomeorapartmentbeforepurchasingtheirnexthome.Afirst-timebuyercouldhaveacquiredownershipoftheirprevioushome(asaninheritanceorgift,forexample)without

havingbeenthebuyerofthehome.Thus,afirst-timebuyercouldhaveownedahomepriortotheirfirsthomepurchase.

26

2025NARHomeBuyersandSellersGenerationalTrends

PRIMARYREASONFORPURCHASINGAHOME

AGEOFHOMEBUYER

Exhibit1-15(PercentageDistribution)

AllBuyers

26to34

35to44

45to59

60to69

70to78

79to99

Desiretoownahomeofown

22%

51%

31%

24%

11%

5%

6%

Desiretobeclosertofamily/friends/relatives

14

4

5

7

19

29

28

Desireforlargerhome

10

12

20

12

6

5

4

Changeinfamilysituation(e.g.marriage,birthofchild,divorce,etc.)

8

8

7

8

7

7

11

Desireforsmallerhome

8

*

1

7

10

18

19

Retirement

7

*

*

2

16

11

8

Desireforahomeinabetterarea

7

3

8

9

7

5

2

Job-relatedrelocationormove

6

7

11

9

3

*

1

Desiretobeclosertojob/school/transit

3

3

3

4

2

1

3

Affordabilityofhomes

2

1

1

2

2

2

2

Financialsecurity

2

1

2

3

2

1

1

Desireforanewlybuiltorcustom-builthome

2

1

1

2

2

1

2

Establishahousehold

1

3

2

1

1

*

*

Betterweatherconditions

1

*

*

1

2

2

1

Desireforbetterhomeforpet(s)

1

*

*

1

1

1

1

Purchasedhomeforfamilymemberorrelative

1

3

1

1

1

*

*

Greaternumberofhomesonthemarketforsale/betterchoice

*

*

*

1

1

1

3

27

*Lessthan1percent

2025NARHomeBuyersandSellersGenerationalTrends

PRIMARYREASONFORTHETIMINGOFHOMEPURCHASE

Exhibit1-16(PercentageDistribution)

AGEOFHOMEBUYER

AllBuyers

18to25

26to34

35to44

45to59

60to69

70to78

79to99

Itwasjusttherighttime,wasreadytobuyahome

43%

46%

44%

41%

41%

47%

44%

45%

Didnothavemuchchoice,hadtopurchase

23

13

28

30

26

17

16

15

Itwasthebesttimebecauseofavailabilityofhomesforsale

13

28

10

11

11

14

15

13

Itwasthebesttimebecauseofaffordabilityofhomes

4

6

5

3

3

3

4

4

ThebuyerwishedtheyhadwaitedItwasthebesttimebecauseof

mortgagefinancingoptionsavailable

4

2

4

3

3

4

5

2

5

2

3

1

4

2

3

*

Other

12

1

7

8

13

15

16

19

*Lessthan1percent

28

2025NARHomeBuyersandSellersGenerationalTrends

OTHERHOMESOWNED

Exhibit1-17(PercentofRespondents)

AGEOFHOMEBUYER

AllBuyers

26to34

35to44

45to59

60to69

70to78

79to99

Recentlypurchasedhomeonly

83%

91%

83%

82%

83%

78%

82%

Oneormoreinvestmentproperties

8

5

11

9

7

6

5

Oneormorevacationhomes

4

1

2

3

5

7

5

Previoushomesthatbuyeristryingtosell

2

*

1

1

2

2

4

Other

2

*

1

2

2

4

2

*Lessthan1percent

29

2025NARHomeBuyersandSellersGenerationalTrends

Chapter2

CharacteristicsofHomesPurchased

30

2025NARHomeBuyersandSellersGenerationalTrends

CharacteristicsofHomesPurchased

。FifteenpercentofYoungerBoomersboughtnewhomes,comparedtoonly10percentofOlderMillennials,andninepercentofYoungerMillennials.

。At42percent,mostrecentbuyerswhopurchasednewhomeswerelookingtoavoidrenovationsandproblemswithplumbingorelectricity.Buyerswhopurchasedpreviouslyownedhomesweremostoftenconsideringabetteroverallvalueat31percent.YoungerBoomersweremorelikelytopurchaseanewhometoavoidrenovationsandproblemswithplumbingorelectricity.

。Themostcommontypeofhomepurchasecontinuedtobe

detachedsingle-familyhomes,whichcomprised75percentof

allhomespurchased.Althoughthiswasmostcommonamongallgenerations,OlderBoomersandtheSilentGeneration

continuedtopurchaseapartments/condosathighersharesthanotheragegroups.

。Nineteenpercentofbuyersovertheageof60purchasedsenior-relatedhousing;thatnumberwastwenty-fivepercentforOlderBabyBoomersand27percentfortheSilentGeneration.

。Themediandistancebetweenthehomesthatrecentbuyers

previouslyresidedinandthehomesthattheypurchasedwas20miles,thesameaslastyear.Themediandistancemovedwas

highestamongtheoldestthreegenerationsat35miles,whilethelowestwasamongYoungerMillennialsat12miles.

。Thetypicalhomerecentlypurchasedwas1,900squarefeet,hadthreebedroomsandtwobathrooms,andwasbuiltin1994.ThesizeofhomeswaslargestamongOlderBoomersandGenXersat2,000squarefeet,comparedtoYoungerMillennialsata

medianof1,600.YoungerBoomers,OlderBoomers,andtheSilentGenerationtypicallypurchasedsomeofthenewest

homes,withthetypicalhomebeingbuiltin1999.

。Heatingandcoolingcostsandwindows/doors/sidingwerethe

mostimportantenvironmentalfeaturesforrecenthomebuyers,with33and31percentfindingthesetwofeaturesveryimportant,respectively.YoungerandOlderMillennialsconsidercommutingcoststobethemostimportant,bothat40percent.

。Overall,buyersexpectedtoliveintheirhomesforamedianof15years,thesam