((Newsnation– Children have exceeded the millennial generation and bought more homes than any other generation, according to a new national association for real estate brokers. a report.
In contrast to generations’ trends, children’s births constituted 42 % of all home buyers last year, while the millennial generation represents 29 %. A year ago, the millennial generation was 38 % of all buyers compared to children’s births by 31 %.
The Millennium generation lost land despite being the largest group of generations in the United States and entering their main years in the field of home – a sign that low stocks, high mortgage rates and home prices make it difficult for younger buyers to storm the housing market.
Another indicator of the ability to afford the costs: the share of the home buyers for the first time decreased to 24 %, a decrease from 32 % last year.
High mortgage rates Little home salesBut the older buyers, who were likely to pay cash, were less damaged than the transformation.
“What is noticeable is that half of the oldest births [ages 70-78] And two of the five youngeries [ages 60-69] Jessica Lutz, deputy economist and deputy head of research, said in a statement that the buying of homes from the entire homes in cash, completely exceeding funding.
Meanwhile, more than 90 % of buyers 44 and younger have financed their home.
The millennial generation was more likely to rely on family support. About 27 % of the younger millennium generation (between the ages of 26 and 34 years) was martyred and 13 % of the older millennium (between 35 to 44 years old) is a gift from a relative or a friend as a source of her payment.
Although they were enthusiastic buyers, Baby Boomers also constitute 53 % largest sellers. This is somewhat encouraging, given that empty children’s children have approximately 3 out of 10 large American homes-twice up to the millennial generation with children, According to Redvin.
Nearly 30 % of children’s children said in the latest NAR report that the main reason for the purchase was a desire for a smaller house.
Some experts forecast The “silver tsunami” can enhance the supply of home when a wave of larger home owners begins to reduce its size. I am free Less optimistic Because supply and demand do not match the map.
The results of Nar emphasize the growing division between generations, as the younger Americans are struggling to buy homes that seem to their parents much more.
recently Federal reserve data It highlights the division of age in the American economy. Children have about 51 % Of all the fortunes of the family at the end of 2024, while the millennial generation represents about 10 %, and General Xers carried slightly more than a quarter.
The latest fire Report of generations trends Depends on survey responses from 5390 home buyers who bought a preliminary stay between July 2023 and June 2024.
A share of modern homes buyer by generation, according to NAR:
- Children (between 60 and 78): 42 %
- Millennium generation (ages 26-44): 29 %
- Tenth generation (ages 45-59): 24 %
- Silent generation (ages 79-99): 4 %
- Generation Z (Ages 18-25): 3 %
The total may not add up to 100 % due to approximation.