Home Sales Increase Among Baby Boomers and Older Americans
Homes have often been selling for thousands of dollars above asking price during the recent real estate boom. And the generation that has been winning many of these bidding wars and buying a larger percentage of homes than it did a decade ago may come as a surprise: older Americans.
In 2009, people ages 18 to 39 made up nearly half of homebuyers, according a new analysis from Zillow. By 2019, that number had gone down to 42%. Simultaneously, adults 60 and older went from making up 16% of homebuyers in 2009 to nearly 25% in 2019.
Since then, older…