Older Baby Boomers were the most satisfied homebuyers in a new demographic study of generational buyer trends. Older Boomers accounted for the second-largest share of home sellers in 2018 (22 percent).
According to the National Association of Realtors' study, these buyers aged 64 to 72 years old had a 14 percent market share, and the third largest share of single female buyers (20 percent). Their primary drivers for buying were to retire, (19 percent of respondents), and to live closer to friends and family (22 percent of respondents).
Compared to other buyers, they moved the greatest distances at a median of 30 miles, same as the Silent Generation. Older Boomers were the less likely to purchase homes for the quality of school districts or convenience to schools. Rather, they purchased homes for the quality of the neighborhood and for convenience to friends and family. This age group found commuting costs the least important. Overall, Older Boomers were very likely not to make compromises on the home when they purchased (49 percent), citing that they were never moving and it was their forever home (33 percent).
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