The National Association of REALTORS® (NAR) recently released its annual report on Home Buyers and Sellers Generational Trends for 2026, reviewing market trends for 2025. Check out our summary of four major takeaways from this year’s report and what they mean for the real estate industry:
1. Equity-rich Baby Boomers continued to dominate the market, as both homebuyers and sellers. After several years of tug-of-war, Boomers have once again bested Millennials as the largest generation of homebuyers, making up 42% of the buying market. Millennial homebuyers dropped significantly from 29% of the market in 2024 to 26% in 2025. Boomers also continue to dominate the selling market, making up 55% of home sellers.
With the median existing-home sale price rising to $408,800 in March 2026—the highest number ever recorded in that month—equity is what’s driving the market. This rise in price has led the average homeowner to accumulate $128,100 in housing wealth over the past six years. Many Baby Boomers have lived in their homes two or three times longer than that, making their appreciation much higher. “Baby boomers are at a point in life when they have the flexibility to move, often with housing equity to purchase their next home,” says NAR Deputy Chief Economist Dr. Jessica Lautz.
2. First-time homebuyers reached a record low. Only 21% of buyers purchased their first home in 2025, down from 24% in 2024, marking the lowest percentage of first-time buyers since NAR began collecting data in 1981. Millennials continued to make up the largest share of first-time buyers, though a bit unevenly. Despite surpassing Gen X with the highest median household income of any generation at $132,700, Older Millennials made up only 33% of first-time buyers, far less than Younger Millennials, who made up 60%. However, both those statistics are down from the previous year, particularly Younger Millennials, who made up 71% of first-time buyers in 2024.
“The housing market remains sharply divided between homeowners with equity and first-time buyers trying to break in—many of whom are younger Millennials,” says Dr. Lautz. “For many younger households, affordability challenges and limited inventory are still making homeownership difficult to achieve.”
3. Gen X continues to lead the trend of multigenerational homebuying. While only 14% of all home buyers purchased a multigenerational home, Gen X remains in the lead at 19%. Gen X continues to be the generation most likely to care for aging parents, have school-aged children or adult children who have moved back home, and thus, look to cost-saving measures like multigenerational living.
4. Gen Z continues to break trends and redefine homeownership. As the youngest demographic, Gen Z made up the smallest percentage of buyers (4%) in 2025 but continued to shake up industry norms. Along with being the most racially diverse generation of buyers, 17% of Gen Z buyers were unmarried couples (the highest number of any demographic), and an impressive 35% of buyers were single women.
“What stands out about Gen Z is how confidently they’re beginning to define homeownership for themselves,” Lautz said. “They may still be a small share of the market, but they’re already challenging old assumptions about who buys a home and when. For many of these buyers, marriage and children are no longer the defining milestones before a home purchase. The driving force is simply the desire to own a home of their own.”
Industry professionals can continue to cater to each generation by using data to create a good first impression, understanding and honoring customer preferences, and offering care and respect to the values and needs of each. For example:
• Baby Boomers and Gen Xers will appreciate careful assistance with paperwork and inspections, touring areas that offer their valued criteria, and personalized touches, such as a hand-written thank-you note upon closing. Boomers may be downsizing, retiring, or looking to live in senior communities, so knowledge of those options is appreciated.
• Millennials will generally welcome professionals who provide digital options like neighborhood search apps and virtual tours, as well as financing resources.
As the most internet-savvy and climate-conscious generation, Gen Z buyers have likely done their research and are seeking a home that will sustain them for as long as possible.
For more insight, check out our flyer on understanding generational trends.
There’s a reason countless Americans have relied on Old Republic Title for over a century. Through changing markets and generational trends, we continue to offer personalized closing services and a variety of title insurance resources designed to help our customers protect one of their biggest investments. Whenever you’re ready to buy or sell your home, Old Republic Title will be there to help.
Copyright ©2026 “Home Buyers and Sellers Generational Trends Report 2026.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. April 15, 2026. https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends
