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A home for the agesA home for the agesBryan PopePope
2017-06-01T05:00:00ZHousing

​​​​Which generational category (e.g. millennials, generation x, boomers) represents the largest percentage of homebuyers in Texas?

I was curious, so I conducted an informal, entirely unscientific survey in Tuesday's edition of RECON. I asked residential real estate​ professionals to tell us which group is buying the most homes.​ We had 122 responses, and 30.3 percent said most of their buyers are millennials (born 1980-98), ​​​while 27 percent said Gen-Xers (1965-79). Younger boomers (1955-64) are the top group for 18.9 percent of sellers, older boomers (1946-54) for 16.4 percent, and the silent generation (1925-45) for 7.4 percent.

Turns out our results track fairly closely with what the National Association of Realtors (NAR) found in their recent study of buyer/seller generational trends​ (a study that's presumably more statistically sound than our quick poll). According to their findings, 34 percent of recent homebuyers were millennials.

Actually, their survey turned up quite a bit about that age demographic. Among their other findings:

  • Millennial buyers, at 85 percent, were the most likely generation to view their home purchase as a good financial investment.
  • Millennials were the most likely to use a real estate agent to both buy their home (92 percent) and to sell (90 percent).
  • Only 15 percent of millennial buyers bought in an urban area, which is down from 17 percent last year and 21 percent two years ago.​​​

National Association of Realtors' infographic on generational buyer and seller trends

2017-06-01T05:00:00Zhttps://www.recenter.tamu.edu/info/blog/?Item=86

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