Millennials Were Largest Share of Homebuyers in 2014

March 12, 2015

The NAR crunched some numbers and released their 2015 Home Buyer and Seller Generational Trends. What they found: Adults aged 24 and younger account for 32 percent of all home purchases.

The association says that employment and household formation are driving all homebuying. Moreover, like the majority of buyers, Millennials mostly purchased a single-family home in the suburbs.

One continuing emerging trend is multigenerational housing, which helps buyers save money. The report says that 13 percent of all home purchases were by multigenerational buyers, such as siblings purchasing together or parents purchasing with children.

Read more