Survey Finds Younger Buyers Taking Over

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A new survey released today suggests concerns about younger buyers waiting in the wings are overblown. The 2015 National Association of REALTORS® Home Buyer and Seller Generational Trends study, which evaluates age-based differences of recent home buyers and sellers, found that the millennial generation represented the largest share of recent buyers.

This was the second consecutive year that NAR’s study found that the largest group of recent buyers came from those who were 34 and younger, comprising 32 percent of all buyers in 2014 and 31 percent in 2013. Buyers aged 35 to 49, often considered part of Generation X, followed closely behind with a 27 percent share of 2014 sales. Millennial buyers represented more than double the amount of Baby Boomer buyers.

“Over 80 percent of Millennial and Gen X buyers consider their home purchase a good financial investment, and the desire to own a home of their own was the top reason given by Millennials for their purchase,” says Lawrence Yun, NAR chief economist. “Fixed monthly payments and the long-term financial stability homeownership can provide are attractive to young adults despite them witnessing the housing downturn and subsequent slow recovery in the early years of their adulthood.”

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