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Tag Archives: NAR

Millennials Largest Group of Recent Home Buyers for Second Year

The median age of millennial homebuyers was 29, their median income was $76,900 and they typically bought a 1,720-square foot home costing $189,900. The typical Gen X buyer was 41 years old, had a median income of $104,600 and purchased a 1,890-square foot home costing $250,000. When asked about the primary reason for purchasing a home, a desire to own a home of their own was highest among Millennials at 39 percent. Younger boomers were the most likely to buy because of a job-related relocation or move, and a change in a family situation, most likely the birth of a child, was the highest among Gen X buyers.

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Existing-Home Sales Ahead of Last Year’s Pace, But Still Down In All Major Regions

There’s good news and bad news for January’s existing-home sales, according to the National Association of Realtors. On the one hand, sales in January, for the fourth straight month, were ahead of the pace of sales a year ago. On the other hand, existing-home sales in all major regions declined last month to their lowest rate in nine months, with the West and Northeast getting the worst of it.

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