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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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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