The Age of Buyers is Skyrocketing, per NAR Economist
The median age of home buyers is inceasing year by year. See this excellent National Association of Realtors study posted by Lottie Kendall (follows). The median age of Home Buyers is Going UP!
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Home Buyer Ages are Skyrocketing
The National Association of Realtors shared information from Dr. Jessica Lautz, Vice President of Demographics and Behavioral Insights at NAR, regarding the ages of buyers.
In short, buyers' ages have jumped from a median of 31 in 1981 to 47 in 2019. What is even more interesting to me is that the median ages of repeat buyers has risen from 36 in 1981 to 55 in 2019!
You can read her complete article by clicking on this link, "The Age of Buyers is Skyrocketing...but Not for Who You Might Think" It is not a long read, but full of interesting thoughts and possibilities.
There are some interesting target marketing possibilities here.
Her graph, below, readily shows the clear trend.
I would dearly love to be able to break this down by state and city. Does San Francisco see the same ages and the same trend? What about the Silicon Valley?
I might need to dig a bit deeper.
--- Come for a visit; Stay for a lifetime!
Lottie Kendall, Realtor®
Compass
CA DRE#10215160; 650-465-4547
Lottie@LottieKendall.com
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