Characteristics of Home Buyers

○ First-time buyers made up 31 percent of all home buyers, the same as
last year. Eighty-two percent of buyers 22 to 30 years and 48 percent
of buyers 31 to 40 years were first-time home buyers. Behind these
groups, 22 percent of buyers 40 to 54 years were also first-time home
buyers.
○ At 24 percent, buyers 41 to 50 made up the largest generational group
of buyers, with a median age of 47, followed by buyers 31 to 40
at 23 percent, who have a median age of 34.
○ Buyers between the ages of 40 to 54 had the highest household
incomes of any generation at $113,300 in 2019, followed by buyers
between 30 to 39 that had a median income of $105,600.
○ Sixty-two percent of recent buyers were married couples, 18 percent
were single females, nine percent were single males, and nine percent
were unmarried couples. The highest percentage of single female
buyers was in the 66 to 74 age group at 22 percent. The highest share
of unmarried couples were in the 22 to 30 age group at 20 percent.
○ Thirty-three percent of all buyers had children under the age of 18
living at home. Sixty-one percent of buyers between 31 to 40 years
had at least one child under the age of 18 residing in the home.

○ Twelve percent of home buyers purchased a multi-generational home
to take care of aging parents, because children over the age of 18 were
moving back, and for cost savings. Eighteen percent of buyers aged 41
to 55 purchased a multi-generational home. Buyers 75 to 95 years
comprised the second largest share at 17 percent.
○ The 41 to 55 age group continues to be the most racially diverse group
of buyers in 2019. Twenty-seven percent of this group of buyers
identified as Hispanic / Latino, Black / African American, or Asian /
Pacific Islander.
○ The 31 to 40 age group was the most educated group, with 79 percent
holding at least a bachelor’s degree or higher. The next most
educated was the 22 to 30 age group.
○ The most common reasons for recently purchasing a home differed
between the generations. For all three groups under the age of 66
years, the main reason for purchasing was the desire to own a home
of their own. Among the 66 and older age groups, the desire to be
closer to friends and family was the top reason to purchase, followed
by the desire for a smaller home.

Characteristics of Home Buyers

AGE OF HOME BUYERS

HOUSEHOLD INCOME OF HOME BUYERS

ADULT COMPOSITION OF HOME BUYER HOUSEHOLDS

NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING
IN HOUSEHOLD

HOME PURCHASED WAS A MULTI-GENERATIONAL HOME
(WILL HOME ADULT SIBLINGS, ADULT CHILDREN,
PARENTS, AND/OR GRANDPARENTS)

HOME BUYER IDENTIFIES AS TRANSGENDER

HOME BUYER SEXUAL ORIENTATION

RACE / ETHNICITY OF HOME BUYERS

HOME BUYER EDUCATION

PRIMARY LANGUAGE SPOKEN IN HOME BUYER
HOUSEHOLD

NATIONAL ORIGIN OF HOME BUYERS

ACTIVE MILITARY/VETERANS

FIRST-TIME HOME BUYERS IN AGE GROUP

PRIOR LIVING ARRANGEMENT

PRIMARY REASON FOR PURCHASING A HOME

PRIMARY REASON FOR THE TIMING OF HOME PURCHASE

OTHER HOMES OWNED

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