Boomers are now biggest group of buyers

Boomers have retaken the title as the most populous generation of homebuyers from millennials, according to NAR’s 2023 Home Buyers and Sellers Generational Trends report. The report reveals that boomers led all generations with 39% of home purchases in 2022, followed by millennials accounting for 28%. In 2021, millennials led with 43% share compared to boomers at 28%. Older homebuyers often have more resources and can weather turbulent economic times, like the U.S. is experiencing now, better than younger buyers. Brokerages and agents can leverage this insight to adjust their marketing and prospecting to better meet and serve current buyers.