Characteristics of Home Buyers in America in 2019

○ First-time buyers made up 33 percent of all home buyers, a decrease from last year at 34 percent. Fifty-two percent of buyers 29 to 38 years and 86 percent of buyers 28 years and younger were first-time home buyers. Following, 24 percent of buyers 39 to 53 years were also first-time home buyers.

○ At 26 percent, buyers 29 to 38 continue to be the largest generational group of buyers with a median age of 34, followed by buyers 39 to 53 at 24 percent with a median age of 45.

○ Buyers between the ages of 39 to 53 had the highest household incomes of any generation at $111,100 in 2017, followed by buyers between 54 to 63 that had a median income of $102,300.

○ Sixty-three percent of recent buyers were married couples, 18 percent were single females, nine percent were single males, and eight percent were unmarried couples. The highest percentage of single female buyers was found in the 54 to 63 years and 73 and older age group. The highest share of unmarried couples were found in the 28 and younger age group.

○ Thirty-seven percent of all buyers had children under the age of 18 living at home.

○ Fifty-eight percent of buyers between 29 to 38 years had at least one child under the age of 18 residing in the home.

○ Twelve percent of home buyers purchased a multi-generational home to take care of aging parents, for cost savings, and because children over the age of 18 were moving back. Sixteen percent of buyers aged 39 to 53 purchased a multi-generational home. Buyers 54 to 63 years comprised the second largest share at 15 percent.

○ The 39 to 53 age group showed to be the most racially diverse group of buyers in 2018. Twenty-two percent of this group of buyers identified as Hispanic / Latino, Black / African American, or Asian / Pacific Islander.

○ The most common reasons for recently purchasing a home differed between the generations. For all three groups under the age of 63 years, the main reason for purchasing was the desire to own a home of their own. Among the 63 and older age groups, the desire to be closer to friends and family was the top reason to purchase. Buyers between 73 and 93 years also purchased for the desire for a smaller home and retirement.

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