{"id":7616,"date":"2016-04-20T07:54:31","date_gmt":"2016-04-20T14:54:31","guid":{"rendered":"https:\/\/therealdaily.com\/?p=7616"},"modified":"2016-04-20T07:54:31","modified_gmt":"2016-04-20T14:54:31","slug":"genx-homebuyers","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/real-estate-brokers\/genx-homebuyers\/","title":{"rendered":"Why Gen X homebuyers are not to be overlooked (despite the focus on Gen Y)"},"content":{"rendered":"

The Home Buyers and Sellers Generational Trends Report<\/a> provides insights into differences and similarities across generations of home buyers and home sellers.<\/p>\n

<\/i> Read also: Why you should stop falling prey to the millennial hype and just do your job<\/a><\/strong><\/div>\n

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\nOne consistent finding for the\u00a0last three years of reports has\u00a0been that \u201cMillennials (buyers 18 to 35) make up\u00a0the largest share of home buyers at 35 percent.\u201d In fact, says the NAR, that percentage has consistently grown over the four years\u00a0of reports.<\/p>\n

But don\u2019t think that every other demographic is a dead horse.<\/p>\n

Gen X is at their peak income<\/h2>\n

More Gen X respondents own than rent, at 66 to 30 percent respectively. However, like millennials, those that aren\u2019t buying cite the inability to afford to buy a home as their main reason for not doing so.<\/p>\n

Furthermore, states an article in Economists Outlook<\/a>, \u201cGen X\u2019ers also are in their peak income-making years and have the highest median priced home of all other buyers and the largest homes in median square footage and bedrooms.\u201d<\/p><\/blockquote>\n

Regional Optimism<\/h2>\n

The annual Realtor.org report<\/a> feels that looking at regional attitudes towards buying, Gen X is fairly optimistic across the board although there are differences:<\/p>\n

In the Northeast<\/em>, 86 percent feel that buying a home is a good financial decision while 79 percent feel ownership is part of their American dream.<\/p>\n

In the Midwest<\/em>, 93 percent feel that buying is a good financial decision while 86 percent believe owning is part of their American dream.<\/p>\n

In the South<\/em>, 90 percent feel that buying is a good financial decision and that ownership is part of the American dream for 91 percent.<\/p>\n

In the West<\/em>, 92 were percent in favor of buying as good financial decision and 86 percent believe owning is part of their American dream.<\/p>\n

The professional touch<\/h2>\n

When it comes to purchasing a home through an agent, there isn\u2019t that much of a disparity between millennials and Gen X buyers. Realtor.org\u2019s Trends Report<\/a> points out that \u201cEighty-nine percent of millennials, 87 percent of Gen X buyers, and 85 percent of younger boomers purchased their home through an agent. \u201c<\/p>\n

Buyers from all generations primarily wanted their agent\u2019s help to find the right home to purchase.<\/p><\/blockquote>\n

Buyers were also looking for help to negotiate the terms of sale and to help with price negotiations. Help understanding the purchase process was most beneficial to millennial buyers at 71 percent.<\/p>\n

Referrals continue to be the way that most buyers find their real estate agent. Referrals by friends, neighbors, or relatives were higher among younger buyers such as millennials (46 percent) and Gen X (43 percent) more than with the older generations.<\/p>\n

Millennials may make up\u00a0the largest share of home buyers but it\u2019s apparent that Gen X isn\u2019t too far behind.<\/p>\n

#GenX<\/h3>\n","protected":false},"excerpt":{"rendered":"

While millennials may be the largest group of homebuyers, Gen X is also an important generational group when it comes to moving the housing market.<\/p>\n","protected":false},"author":337420,"featured_media":5721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[94],"tags":[958,959,323,960],"class_list":["post-7616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-brokers","tag-gen-x","tag-homebuyer","tag-homeownership","tag-outlook"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2015\/11\/professional.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337420"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=7616"}],"version-history":[{"count":3,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7616\/revisions"}],"predecessor-version":[{"id":7640,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/7616\/revisions\/7640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/5721"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=7616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=7616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=7616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}