Who Buys the Most Homes in 2025: Gen Z, Millennials, Gen X, or Boomers?
If you’re a homebuyer or seller—curious about who’s making moves in today’s housing market—here’s the latest scoop. Hint: it might surprise you.
The Generation Behind Most Home Purchases: The Unexpected Leader According to the 2025 NAR report, Baby Boomers now make up the largest share of homebuyers, accounting for 42% of all home purchases, surpassing Millennials, who dropped to 29%, with Gen X at 24%, and Gen Z at just 3%.
That is a major shift from just a few years ago, when Millennials once held the top spot. Boomers are now buying at remarkable rates—often with cash, and frequently downsizing, relocating closer to family, or upgrading for retirement.
Breaking It Down by Generation
Baby Boomers (42%)
Older and younger Boomers (ages 60–78) are leading this surge. Roughly half of older Boomers and 40% of younger Boomers are buying without mortgages, using cash or proceeds from prior homes.
Millennials (29%)
In just a year, Millennials dropped from leading buyers at 38% to 29%. Still, younger Millennials (ages 26–34) are more likely than older Millennials to be first-time buyers (71% vs. 36%).
Gen X (24%)
Often overlooked, Gen X (ages 45–59) holds steady at 24%. They tend to be high earners (median household income ~$130K), buying larger homes and multigenerational properties.
Gen Z (3%)
Gen Z remains a small slice of the buying pie—for now. Their entry-level participation is limited, but they are increasingly motivated. About 30% of Gen Z buyers are single women, and many delay buying due to mortgage rates.
At a Glance: Who Buys the Most Homes?
Generation | Share of Buyers (%) | Notes
Baby Boomers | 42% | Many pay all cash, move for retirement or downsizing
Millennials | 29% | Younger Millennials dominate first-time buyer ranks
Gen X | 24% | High incomes, multigenerational homes, stable share
Gen Z | 3% | Emerging buyers, affordability still a big barrier
What This Means for You
- As a buyer, you may be competing with older, wealthier Boomers who often can move fast with cash.
- As a seller, understand who’s active right now—Millennials and Gen X are still sizable, but Boomers are key buyers in many markets.
- For everyone, expect Gen Z to grow into the market. By 2030, they’re projected to represent 30% of all homebuyers, influencing the housing market’s direction.
Why It Matters
- Millennials remain the largest group of first-time homebuyers—about 71% of younger Millennials and 36% of older Millennials are buying their first home.
- Gen Z faces affordability challenges—55% have delayed buying due to high mortgage rates, the highest of any group.
Final Thoughts
Who buys the most homes? In 2025, it's Baby Boomers—not Millennials or Gen Z. Gone are the days when Millennials dominated the field.
But Millennials remain a powerful force—especially among first‑time buyers—while Gen X holds solid footing. Gen Z is just getting started. Understanding these shifts matters whether you're listing a home or hunting for one.
Stay tuned: as affordability, technology, and cultural shifts evolve, the buyer picture will shift with it.
Choose Wisely, Reap the Rewards
Homeownership is one of life’s greatest privileges, but working with the right agent is the key to making it smooth, successful, and even enjoyable. Don’t settle for less. Whether you’re buying, selling, or investing, give yourself the chance to work with a true professional.
With tools like iConnct, finding that perfect agent has never been easier. And trust us—when you find “the one,” you’ll never look back.
GoWpNow and The Warburton Team help hundreds of buyers get home every year. We look forward to representing your best interests as a buyer, and we appreciate the opportunity to be of service.
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