flexiblefullpage - default
Currently Reading

As Housing Affordability Worsens, Multigenerational Buying Is on the Rise

billboard - default
Market Data + Trends

As Housing Affordability Worsens, Multigenerational Buying Is on the Rise

First-time and repeat buyers are increasingly turning to multigenerational living to spend more time with loved ones and to save on housing costs

February 7, 2023
Young hands cupping older hands holding a house
Image: Stock.adobe.com

Over the past several years, the share of multigenerational homebuyers reached new highs as Americans sought ways to spend more time with their families while saving money on home purchases. After dropping to 11% in 2021, multigenerational buying is back near an all-time high at 14%, led by Gen Xers who are caring for aging adults and younger generations moving back into their childhood homes.

For both first-time and repeat buyers, roughly 30% say that caretaking or spending time with aging relatives is important, but among all reasons for buying a multigenerational home, first-timers reported cost savings as the greatest motivating factor, the National Association of Realtors reports.

For first-time buyers, who struggled to enter last year’s housing market, perhaps it is unsurprising that they are more likely to purchase a multi-generational home due to cost savings and for a larger home that multiple incomes could buy together. First-time buyers, who have a median age of 36, also are more likely to say their adult children have not yet left the nest. On the other hand, repeat buyers, who have a median age of 59, are more likely to say their adult children are now boomeranging back.

Read more

Related Stories

Market Data + Trends

Homebuyer Desperation Is Leading to a Rise in Real Estate Fraud

Real estate scammers are targeting budget-conscious buyers and wreaking havoc on the for-sale market, and experts say the situation could get worse as market dynamics continue to shift

Market Data + Trends

National Home Prices Fell for the Seventh Straight Month in January

U.S. home prices are cooling as interest rates rise, and these metros are seeing the biggest price corrections


US Housing Affordability Is Worse Now Than It Was in 2008

Measurements of housing affordability were worse in December 2022 than at any point leading up to the housing bubble in 2008, but experts say conditions will improve by the end of the year

boombox1 -
native1 - default
halfpage2 -

More in Category

native2 - default
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.