The Silent Generation, aged 73 to 93 years, was the smallest homebuying age cohort in 2018, with a seven percent market share. These buyers are most likely to buy a home to be closer to friends and family.
April 19, 2019
Photo: Behzad Ghaffarian/Unsplash
The Silent Generation, aged 73 to 93 years, was the smallest homebuying age cohort in 2018, with a seven percent market share. These buyers are most likely to buy a home to be closer to friends and family.
According to the National Association of Realtors' data, the Silent Generation and Younger Baby Boomers both had the highest share of single female buyers, 25 percent. These buyers were the least likely to make concessions on a home's condition, a 16 percent share, and were the least likely to base their home search on convenience and proximity to work or schools, or by a school district's quality.
The Silent Generation had the smallest share of first-time homebuyers at only four percent, which was expected for their age group. Correspondingly, they made up the largest share to move directly from a home that they owned at 82 percent. They also had the lowest median household income at $69,600, likely living off retirement funds. They managed their finances accordingly and bought homes with the second lowest median home price at $243,000. They also purchased some of the newest homes last year with a median year of 1996.
