Wealthy young buyers twice as likely to buy homes as older ones

Forty-three percent of buyers with a minimum household income of $250,000 or more are considering buying a home in the next 12 months, compared with 21 percent of those who are 55 or older, according to a survey by Coldwell Banker Previews International.

On average, those younger consumers spent more than $2.1 million on their most recent home purchase, nearly twice as much as the average amount their older counterparts spent on their most recent purchase, the survey found.