Can Age Influence Real Estate Markets?
How much does age matter in real estate? Findings show different ages of home buyers are seeking types of real estate markets. Individuals seek out types of homes that cater to their specific needs in different stages of their lives. Realtor Magazine analyzed migration data to find the hottest locations for each age. The research separated results into three age categories: Millennials, Gen X, and Boomers.
Millennials
These types of buyers are allured by places known to be strong technology and cultural centers. They search for booming job markets and a wide variety of social amenities.
Top 5 Cities for Ages 24 to 38:
- San Francisco
- Seattle
- Houston
- Dallas
- Washington, D.C.
Generation X
This home owner is looking for housing affordability. These buyers want their housing to meet the need of growing families. Many are attracted to warm weather and business friendly states.
Top 5 Cities for Ages 39 to 53:
- Houston
- Miami
- Dallas
- Washington, D.C.
- Riverside, CA
Baby Boomers
It’s all about the Sun Belt! Many of these buyers are looking to downsize. Simplicity and little maintenance is highly desired by those looking forward to retirement.
Top 5 Cities for Ages 54 to 74:
- Phoenix
- North Port, FL
- Miami
- The Villages, FL
- Punta Gorda, FL
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