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How Baby Boomers Have Remade Home Buying –The Washington Post

The Washington Post

“We are seeing that in 2024 every single boomer has turned at least 60, a critical time period where they are asking themselves, ‘Do I want to retire? Where do I want to live?’,” said Jessica Lautz, deputy chief economist for the National Association of Realtors®. “Last year, baby boomers were the biggest share of buyers. What that means is they’re buying later in life than traditionally. Previously, we didn’t see the retired saying, ‘I want to move.’ Baby boomers have reinvented everything. I suspect they’re reinventing what it means to be a retiree. It doesn’t have to look like their parents’ generation.”

In its 2024 Home Buyers and Sellers Generational Report, the Realtors® association found that 19 percent of all buyers over 60 moved to communities specifically designed for older adults. Nearly 60 percent bought single-family houses, while 12 percent bought townhouses and 5 percent purchased condos.

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