While many are focused on the wants and needs of millennial buyers, older generations of home buyers still have a lot of purchasing power. Baby boomers actually make up 31 percent of the home buying population, and real estate pros need to be familiar with their housing and neighborhood preferences.
According to NAHB’s new Housing Preferences of the Boomer Generation report, this generation seeks out single-family detached homes in low-traffic communities.
This study collected information from 4,326 recent and prospective buyers of all demographics. NAHB asked respondents to label 19 community features as essential/must-have, desirable, indifferent, and do not want.
Full report at: “Boomers Prefer Suburbs and Cul de Sacs,” Eye on Housing Blog (2/11/16)