In December 2015, individuals 34-years-old or younger made 27 percent of all home purchases, according to the Realtors Confidence Index Survey Report. Due to income growth lagging behind the increase in home prices, this number has remained unchanged since 2012, considered the housing market’s breakout recovery year.
For all of 2015, buyers aged 34 and under accounted for 28 percent of home sales. However, in Utah, Pennsylvania, New York, Ohio, Illinois, and Colorado, a larger portion of the residential market was made up of these young buyers, the Economists’ Outlook Blog reports.
Buyers 35-years-old to 55-years-old made up almost half of sales and buyers 56-years-old and over accounted for 24 percent of home sales in December of 2015.