The demographic of the average American homeowner is slowly changing. It can be difficult for builders to stay ahead of constantly changing purchasing trends. Who is making the bulk of the home purchases now and are they finding what they want? Here are the top demographics and what you need to know to stay ahead of the changing demographic curve.
A report published by the National Association of REALTORS revealed that millennials accounted for the largest portion of home sales in 2018 at 36 percent of all purchases. Baby boomers followed closely by accounting for 32 percent of home sales. Generation X bought 26 percent, and the smallest demographic of home buyers were 72 and older at 6 percent.
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