Older Buyers Are Driving the Real Estate Market! 🏡 The 2024 Profile of Home Buyers and Sellers from the National Association of REALTORS® revealed some record-breaking trends:
📊 53% of all home buyers were age 55 and over.
📈 The median age of home buyers rose to 56 years (up from 49 last year).
🔑 The typical repeat buyer age is now 61 (up from 58).
🏠 19% of buyers over 60 purchased senior-related housing, with 58% choosing detached single-family homes and 52% buying in suburbs or subdivisions.
🏡 Sellers are getting older too—the typical seller age hit an all-time high of 63!
What Does This Mean?
As Baby Boomers and Gen Xers continue to age, their housing needs are evolving. Some are looking to downsize, while others are trading up or finding homes that allow them to age in place comfortably. Many are prioritizing accessibility, proximity to family, and the right mix of amenities.
Whether you’re considering a move to a more manageable home, exploring multigenerational or senior housing options, or simply planning for the future, I’m here to guide you every step of the way.
Let’s find the perfect fit for this next chapter of your life! 🌟
