The Boomer generation remains very active in the housing market, taking over the top home buyer spot from Millennials. According to the latest generational trends report from the National Association of REALTORS©, Baby Boomers accounted for 42% of all home purchases from June 2023 through June 2024. Millennials made 29% of all home purchases, and Gen X buyers outpaced Gen Z for the remainder.
Millennials represent the largest demographic in the U.S. by population, but the Boomer generation has an advantage in the market. Namely, cash! While higher mortgage interest rates and rising home prices curtailed the purchase power of younger generations, homeowner Boomers were able to sell their properties and benefit from years of value appreciation. In turn, many Boomers were able to purchase their new homes with all-cash offers.
It’s no surprise, then, that 53% of all home sellers during the same year-over-year period were Boomers. According to the NAR survey, most Boomers moved to be closer to family, or to downsize.
Here in the Columbus area, Millennial and Gen Z home buyers have more affordable conditions than other major metropolitan areas. About 51% of Millennial residents in the Columbus Metro are homeowners, according to a report by AXIOS. About 41% of Gen Z residents own homes. Buyers who are financially prepared, and educated about the market, can find opportunities in Columbus!
Get expert home buying strategies and insights with our free e-book, “How to Buy a Home like a Pro!” It’s yours immediately without any obligation, and the download is right from our own website.
As Exclusive Buyer’s Brokers, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interests.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
