Baby boomers accounted for >one-third of US homeowners, and >half had no mortgage, a position that made holding onto homes especially attractive as rates climbed.
Many had stayed in their homes for >10 yr, choosing aging in place and renovations over trading low or no payments for current mid-7% financing.
Empty-nest boomers held 28% of the nation's biggest 3-bedroom-plus homes, while millennial families held 14%, helping explain tight options for households needing more space.
Salary needed for a starter home nearly doubled since the pandemic, adding frustration for younger buyers navigating low inventory and higher costs.
Millennials became the largest homebuyer group after a strong 2024 rebound, even as existing-home sales stayed relatively stagnant and generational priorities kept shaping housing decisions.
