A just-released study by the National Association of Realtors (NAR) indicates baby boomers have now surpassed millennials when it comes to home-buying in the United States.
In its 2023 Home Buyers and Sellers Generational Trends Report, the NAR indicates the boomers, aged 58–76, comprised 39 percent of all homebuyers at the end of 2022—a 10-point lead over 2021 figures. In comparison, millennials, ranging from ages 24–42, experienced a drop in home-buying activity from 43 percent in 2021 to just 28 percent last year.
Dr. Jessica Lautz, NAR deputy chief economist and vice president of research, told The Epoch Times that baby boomers may have an easier time purchasing homes now because they don’t necessarily have to rely on savings for a down payment. “These homeowners have a lot of housing equity, and they made substantial gains over the last two years as home prices continue to rise,” she said.  “Some of them are now able to pay cash for a new home after selling their house.”…