Baby Boomers Use Cash To Retake Top Spot As Largest Generation of Homebuyers

• April 1st

by UrbanTurf Staff

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Baby boomers are back on top as the largest generation of home buyers, according to a new study out today from the National Association of Realtors.

The 2025 Home Buyers and Sellers Generational Trends report found that boomers rose to 42% of the homebuyer pool in 2024, up from 31% in 2023. The group retook the top spot from millennials, who represented 29% of buyers, a notable drop from 38% last year. 

“In a plot twist, baby boomers have overtaken millennials – the largest U.S. population – to become the top generation of home buyers,” said Jessica Lautz, NAR deputy chief economist and vice president of research. “What’s striking is that half of older boomers and two out of five younger boomers are purchasing homes entirely with cash, bypassing financing altogether.”

In contrast to cash-rich boomers, over 90% of buyers 44 years and younger financed their home purchase, and more than 1 in 4 millennials ages 26-34 received a gift from a relative or friend for their down payment.

The percentage of first-time buyers dropped notably last year, perhaps due to the spike in interest rates. Twenty-four percent of all buyers were first-timers, the lowest since NAR began tracking the data and a drop from 32% in 2024. 

“Older millennials are buying bigger and newer homes with larger down payments than their younger counterparts,” Lautz added. “This shift reflects the increasing role of equity in enabling repeat purchases, especially among older generations, while younger buyers continue to face affordability challenges.”

This article originally published at https://dc.urbanturf.com/articles/blog/baby_boomers_use_cash_to_retake_top_spot_as_largest_generation_of_homebuyer/23351.