Who Is Your Buyer?
Every year since 2013, the National Association of Realtors publishes the very interesting Home Buyers and Sellers Generational Trends Report. We ran across a very interesting infographic that referenced a report that is two years old. The trends are largely intact, but the differences in numbers in just two years is interesting nonetheless.
The report breaks down the age groups as follows:
In the two years since the following infographic was published, Millenial buyers now represent a 38% share of the market, up 2%. Gen X'ers are down 1% to 25%, and Baby Boomers are up a slight 1% - sort of surprising, but probably not statistically significant, given the span of ages covered. And we would expect to see growth in the youngest bracket, since those are the people entering the housing market and starting families.
The entire report can be read online, and is worth a read if you are selling or thinking of listing your home. It's worth putting your head together with your realtor to discuss who your probable buyer will be. You may consider whether you need to make any changes that will broaden the appeal of your home, to attract as wide a buyer audience as possible. Your realtor will have the answers to questions like these - give us a call at Dupuis Team today!