Sense of community and wanting to be near friends and family are major factors for home buyers of all ages. Another overall trend among households young and old is a draw to urban areas, but the shortage of new condos being built means few affordable options.
Millennials took the lead in home purchases at 36%, and 52% of their buyers had at least one child and bought in the suburbs. Baby Boomers came in next at 36%, followed by Generation Xers at 26% and the Silent Generation at 6%. Multi-generational homes are a big enough trend to be measured at 15% for GenXers and 20% for Younger Baby Boomers.
