Among home buyers and sellers, there are different generational trends. According to a recent report, 75% of millennials who are selling their homes are first-time home sellers. That’s compared with 8% of older boomers who are selling their homes for the first time.
Millennials are also more likely to move into larger, higher-priced homes than baby boomers, who tend to move into similar-sized homes or downsize in square footage. That’s because younger buyers are more likely to want a larger home with more space, or they may relocate for new jobs. Before selling, millennials own their homes for an average of five years, while older sellers live in their homes for 13 years, on average.
Source: Nar.realtor
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