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In a surprising shift, baby boomers have reclaimed their position as the largest group of home buyers nationwide, according to the latest data from the National Association of Realtors®. This trend presents important insights for Nashville homeowners considering selling.
The Boomer Advantage: Cash Offers
The combined share of younger boomers (60-69) and older boomers (70-78) now represents 42% of all home buyers, while millennials have dropped to 29%. What’s particularly noteworthy is that half of older boomers and 40% of younger boomers are purchasing homes entirely with cash. For Nashville sellers, this could mean smoother transactions with fewer financing complications.
First-Time Buyers Declining
First-time buyers now make up just 24% of the market—down significantly from 32% last year. This suggests that if you’re selling a starter home in Nashville, your buyer pool may be smaller than in previous years, while move-up and downsizing properties could see stronger demand.
Multigenerational Living on the Rise
Homes that accommodate multigenerational living are gaining popularity, with 17% of buyers now seeking these properties (up from 14%). Generation X leads this trend at 21%, often looking for homes that can house both aging parents and adult children. If your Nashville property offers flexible living spaces or an in-law suite, highlighting these features could attract more interested buyers.
The Professional Advantage
Understanding these nationwide trends can help you better position your Nashville property to appeal to the most active buyers in today’s market. Whether you’re looking to sell to downsizing boomers or accommodate multigenerational families, knowing your likely buyer can make all the difference.
