Industry News

Younger generations buying more houses than elders

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Americans earning at least $75,000 are buying more houses than their parents at a comparable age, with each generation outpacing the home purchase trends of the previous generation, according to a new study commissioned by Coldwell Banker Real Estate Corp. Sixty-six percent of survey respondents in the Silent Generation (aged 61 and up) have owned between two and five homes, according to the survey. Already, 66 percent of baby boomers (aged 42 to 60), have owned a similar two to five homes. Younger generations surveyed are mimicking these home-buying habits. About half (48 percent) of generation X'ers (aged 32-41), and more than one third (36 percent) of echo boomers (aged 31 and younger), have owned between two and five homes. Fifty-eight (58) percent of respondents have owned more homes than their parents did when their parents were at a comparable age. "These findings suggest that this trend will continue as the younger, upper-income generations age," said Jim Gillespie, presiden...