Who is buying houses right now?
Are you a person who loves statistics? I know I am! I find the migration and moving trends through the US so interesting. And I love to see how many people are discovering our city of Atlanta and moving here from all over the country. It’s also super exciting to see younger generations become first-time home buyers.
I know that no two buyers are alike, but now the latest data from the National Association of Realtors 2022 Home Buyers and Sellers Generational Trends Report backs me up!
Here are 9 insights I wanted to share:
1. First-time buyers made up 34% of all home buyers, up from 31% last year.
2. Sixty percent of buyers were married couples, 19% were single females, 9% were single males, and 9% were unmarried couples.
3. Thirty-one percent of all buyers had children under 18 living at home.
4. Eleven percent of buyers purchased a multigenerational home to care for and spend time with aging parents.
5. Baby Boomers make up the largest share of sellers at 42%.
6. Eighty-seven percent of buyers financed their home purchase.
7. Forty-five percent of Younger Millennials (ages 23-31) reported having student loans with a median loan balance of $28,000.
8. Gen Xers (ages 42-56) were the most racially diverse buyers in 2021 — 23% identified as Hispanic /Latino, Black/African American, or Asian/Pacific Islander.
9. Real estate agents and brokers remain the top buying resource for buyers of all ages.
Do any of these surprise you? Want to chat about throwing your name into the buying hat and joining this beautiful and eclectic bunch? I’d love to connect. Reach out anytime!
