Baby Boomers Account for 42% of Homebuyers and 55% of Sellers in the U.S.
The National Association of Realtors (NAR) report for 2026 shows that Baby Boomers (ages 61-79) make up 42% of homebuyers in the U.S., continuing for the second year as the largest homebuying group.
During the same period, Baby Boomers accounted for 55% of home sellers, the highest among all age groups, primarily supported by years of accumulated home equity for new purchases.
The share of first-time homebuyers has dropped to a historic low of 21%, with funds shifting from younger buyers to older groups with equity advantages. Real estate agents and mortgage institutions benefit from active trading in home exchanges, while the younger generation and first-time buyers face pressure.
Source: Public Information
ABAB AI Insight
Baby Boomers surpassed Millennials in 2025 to become the largest homebuying group, and this data continues the trend from ownership to exchange-driven dominance. The high home equity accumulated during the earlier low-interest rate period allows them to maintain purchasing power in a high-price environment.
In terms of capital flow, Baby Boomers release equity by selling homes held for over 15 years to fund down payments for new homes or exchanges, strategically targeting larger or more retirement-suitable properties. This directs liquidity towards the mid-to-high-end housing market and supports overall price stability.
Similar to the post-2008 crisis where delayed retirements by Baby Boomers increased housing demand, or in Japan's aging society where older sellers dominate the market, the current U.S. housing market is transitioning from a younger generation-led phase to one where older equity release is becoming prominent. Large exchange transactions are increasingly controlled by older groups.
Essentially, this reflects capital concentration: intergenerational wealth transfer is realized through housing transactions, with the mechanism being that high-equity older sellers dominate supply and demand, shifting pricing power from first-time buyers to older groups with asset buffers, accelerating the concentration of housing capital towards Baby Boomers and mid-to-high-end property holders.
ABAB News · Cognitive Law
The longer wealth accumulates, the more market dominance shifts towards the older generation, with net worth being the true leverage. When the younger generation cannot afford homes, the older generation selling properties becomes an invisible support for housing prices. The lower the share of first-time homebuyers, the more housing liquidity relies on intergenerational equity release.