What To Know About Buyers From The Silent Generation

April 10, 2017

Buyers between the ages of 71 and 91 constituted only 8 percent of all homebuyers in 2016, the ​smallest​ share of all the generations. 

The NAR Economists’ Outlook blog gave a breakdown of the Silent Generation. Compared to other generations, this group has the lowest median household income ($66,600) and buys homes with the lowest median price ($220,000). The group also has the largest share of new-home buyers (21 percent).

Buyers in the Silent Generation value a home that’s near shopping, but aren’t as concerned with the quality of nearby schools. They also like homes in small towns.

These buyers are the most likely to purchase a duplex, apartment, or condominium at 17 percent and townhouse at nine percent. … The age group of buyers 71 to 91 years are the highest share among generations to purchase for the desire for a smaller home and to be closer to friends and family (both at 23 percent).

Read more

Comments

PB-Industry Data + Research,PB-Single Family Homes
expand_less