One Cool Thing – Home Buyers Characteristics
The Lawhead Team would like to share the latest One Cool Thing from the CAR about which demographic is more likely to be first-time home buyers.
Most vs. least likely to buy for the first time:
Generation Y: Largest share of first-time buyers at 68%
- Silent Generation: Only 3% of this demographic are first-time buyers
What about other demographics?
- Older boomers: 15% of recent buyers
- Younger boomers: 16% of recent buyers
- Generation X: 27% of recent buyers
Source: 2016 National Association of Realtors Home Buyer and Seller Generational Trends
