About 49 percent of younger millennials (ages 25 to 33) bought a house in the United States in 2023 because they desired to have their own home compared to 35 percent of the older millennials. For the older generations, like the older boomers (ages 69 to 77) and the silent generation (ages 78 to 98), the main reason for purchasing homes in 2023 was to move closer to family, friends, and relatives.
Main reason for timing of home purchase in the United States in 2023, by generation
primary residence buyers; real estate purchased between July 2022 and June 2023
Method of interview
Online survey
Supplementary notes
Generation Z - 18 to 24 years Younger Millennials - 25 to 33 years Older Millennials - 34 to 43 years Generation X - 44 to 58 years Younger Boomers -59 to 68 years Older Boomers -69 to 77 years Silent Generation - 78 to 98 years
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National Association of Realtors. (March 28, 2024). Main reason for timing of home purchase in the United States in 2023, by generation [Graph]. In Statista. Retrieved January 23, 2025, from https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed
National Association of Realtors. "Main reason for timing of home purchase in the United States in 2023, by generation." Chart. March 28, 2024. Statista. Accessed January 23, 2025. https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed
National Association of Realtors. (2024). Main reason for timing of home purchase in the United States in 2023, by generation. Statista. Statista Inc.. Accessed: January 23, 2025. https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed
National Association of Realtors. "Main Reason for Timing of Home Purchase in The United States in 2023, by Generation." Statista, Statista Inc., 28 Mar 2024, https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed
National Association of Realtors, Main reason for timing of home purchase in the United States in 2023, by generation Statista, https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed (last visited January 23, 2025)
Main reason for timing of home purchase in the United States in 2023, by generation [Graph], National Association of Realtors, March 28, 2024. [Online]. Available: https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/?__sso_cookie_checker=failed
