In a significant demographic shift within the U.S. housing market, baby boomers have surpassed millennials to become the largest share of home buyers, according to the National Association of Realtors’ 2025 generational trends report, as reported by the Washington Post.

The report, which analyzes recent housing trends across age groups, found that baby boomers – split into younger boomers (60–69) and older boomers (70–78) – collectively accounted for 42% of all home purchases in the past year. That marks a significant increase from the previous year and a reversal of the longstanding trend that saw millennials leading the homebuying market. Millennials’ share fell to 29%, down from 38% last year.

“In a plot twist, baby boomers have overtaken millennials – the largest U.S. population – to become the top generation of home buyers,” said Jessica Lautz, NAR deputy chief economist and vice president of research.

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