ShareFortune
The baby boomer-millennial housing war rages on. Baby boomers are buying and selling more homes than millennials, according to the National Association of REALTORS®’ latest generational trends report released Tuesday.
Baby boomers accounted for 42% of all home buyers, while millennials accounted for 29%. But just a year earlier, baby boomers made up just 31% of home buyers and millennials 38%. Baby boomers are not only buying homes in greater numbers, but doing so in all-cash.
"In a plot twist, baby boomers have overtaken millennials—the largest U.S. population—to become the top generation of home buyers," Jessica Lautz, NAR deputy chief economist and vice president of research, said in a statement. "What’s striking is that half of older boomers and two out of five younger boomers are purchasing homes entirely with cash, bypassing financing altogether."