Older millennials (ages 36–45 in 2025) bought the largest homes of any generation in the past year, with a median square footage of 2,100, according to the 2026 Home Buyers and Sellers Generational Trends report from the National Association of Realtors.
While millennials overall lost housing market share, representing 26% of home buyers this year compared with 29% last year, older millennials leveraged their existing home equity and their median household income of $132,700 (the highest of any generation) to move up in square footage.
“Older millennial buyers are now entering middle age, and with that comes a shift,” NAR Deputy Chief Economist Dr. Jessica Lautz said. “This cohort is now the highest-earning generation of home buyers, buys the largest homes and is most likely to have children living with them. Those traits were once more commonly associated with Gen X buyers, who are now increasingly looking toward empty-nesting and retirement.”
Baby boomers (ages 61–79 in 2025) kept the title of largest generational group of home buyers as the share of first-time buyers fell to a record low.
The generational breakdown of this past year’s home buyers is as follows:
- Gen Z (ages 18–26): 4% (up from 3% last year)
- Millennials (ages 27–45): 26% (down from 29% last year)
- Gen X (ages 46–60): 25% (up from 24% last year)
- Baby Boomers (ages 61–79): 42% (unchanged from last year)
- Silent Generation (ages 80–100): 4% (unchanged from last year)
Read the full report here.
