• Millennials held a market share of 36 percent over the past year, up from 34 percent in 2017. Gen Xers ranked second at 26 percent, a drop from 28 percent in 2017, followed by the Baby Boomers with 32 percent, up from 30 percent in 2017 and the Silent Generation with 6 percent, down from 8 percent in 2017.
• NAR explained that Gen X buyers ranked second because Baby Boomers in the survey are segmented into two groups: younger Boomers, ages 52 to 61, and older Boomers, ages 62 to 70, and encompass a longer age period.
• While Millennials held a majority of the share in the home buying market, low levels of housing inventory and higher home prices held back many potential buyers.
• Over the past year, the typical Millennial homebuyer had a higher household income at $88,200, compared to $82,000 last year, and purchased the same sized home at 1,800 square feet.
• Millennials also had higher levels of student debt than in last year’s survey, and slightly more of them said saving for a down payment was the most difficult task in buying a home.
• The market has also seen an increase in multigenerational homes as more adult children opted to live at home with their Gen X or Baby Boomer parents, increasing from 30 percent last year to 39 percent.
• Millennials are the most likely generation to use a real estate agent with 90 percent purchasing through an agent.

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