Baby boomers—people ages 58 to 76—now make up the largest share of buyers and sellers nationwide, according to the National Association of REALTORS® 2023 Home Buyers and Sellers Generational Trends Report. Baby boomers represented 53% of sellers and 39% of buyers in transactions that occurred between July 2021 and June 2022. Millennials, once the leading share of homebuyers, came in second place, accounting for 28% of buyers according to the report.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 15:
- New Listings decreased 13.4% to 1,321
- Pending Sales decreased 37.7% to 883
- Inventory increased 4.0% to 5,845
FOR THE MONTH OF MARCH:
- Median Sales Price remained flat at $355,000
- Days on Market increased 65.7% to 58
- Percent of Original List Price Received decreased 4.0% to 98.6%
- Months Supply of Homes For Sale increased 36.4% to 1.5
All comparisons are to 2022
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.