Key Highlights

  • After Millennials, Gen-Xers second-largest home buying group
  • Gen-Xers taking advantage of housing boom

Gen-Xers Shopping for Dream Homes Now

We’ve all been talking about Millennials, ages 25 – 40 year-olds, as the end all/be all in terms of today’s housing market.  After all, Millennials are now the largest home buying demographic group in the country and many of them are just now hitting the “ideal” home buying age of 32 years.

But, don’t count out the Gen-Xers, ages 41 – 56.  They are the country’s second largest home buying demographic group.

A recently released study by LendingTree indicates that Gen-Xers are shopping for their dream homes now.

Brief History of Gen-Xers in Housing Market

Gen-Xers experienced first-hand the 1980 recession.  Gen-Xers also experienced first-hand the 2007 housing crash.

If some of those Gen-Xers bought their first homes around the time of the housing crash, chances are they lost them.  In fact, Gen-Xers lost nearly half their wealth during the housing crash and recession between 2007-2009, according to Pew Research study.

Even if they didn’t buy a home during the early 2000’s, many Gen-Xers were shell shocked by both the housing crash and recession and have stayed away from home buying…until now.

Gen-Xers Taking Advantage of Boom in Housing

Finally, Gen-Xers, more than 25% of potential homebuyers, are doing more than just dipping their toes into the housing market.  Now, they’re looking to leverage the near record low interest rates for their dream houses in popular metro areas, according to LendingTree. 

Where Are Gen-Xers Looking to Buy?

  1. Memphis TN
  2. Jacksonville FL
  3. Atlanta GA
  4. Washington DC
  5. Orlando FL
  6. Miami FL
  7. New Orleans LA
  8. Baltimore MD
  9. Tampa FL
  10. Raleigh NC

Where Are Gen-Xers Avoiding?

  1. San Jose CA
  2. Nashville TN
  3. Seattle WA
  4. Pittsburg PA
  5. Austin TX
  6. Buffalo NY
  7. Boston MA
  8. Minneapolis MN
  9. Denver CO
  10. Salt Lake City UT

 

Thanks to LendingTree and HousingWire.

 

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