Baby boomers—Americans between the ages of 60 and 78—are making a big comeback in the housing market. Despite rising home prices, tight inventory, and high mortgage rates, this generation is brushing off the challenges and taking the lead as both buyers and sellers.

According to the National Association of REALTORS®’ 2025 Home Buyers and Sellers Generational Trends Report, baby boomers now make up 42% of all buyers and a whopping 53% of sellers—more than any other age group.

Why Boomers Are Moving

What’s motivating boomers to buy or sell? It’s not just about downsizing—although that’s part of it. Many are moving to be closer to family and friends, to enjoy retirement in a new setting, or to simplify their lifestyle.

“In a plot twist, baby boomers have overtaken millennials—the largest U.S. population—to become the top generation of home buyers,” says Jessica Lautz, NAR’s deputy chief economist.

A big reason? Cash. Boomers have equity—and they’re using it. In fact, half of older boomers and two out of five younger boomers are buying homes entirely with cash, avoiding today’s high mortgage rates altogether.

Equity Is Their Superpower

Boomers have typically stayed in their homes longer than younger generations—16 years on average for those 70–78 and 13 years for those 60–69. That long tenure means they’ve benefited from years of appreciation. Home values have risen 47% nationwide in the last five years alone, boosting homeowners’ net worth and giving boomers the financial edge.

They’re using that equity to fund their next home purchase:

• 62% of buyers aged 70–78
  
• 53% of buyers aged 60–69
  

used the proceeds from their last home to buy their next.

Meanwhile, only 49% of older boomers needed a mortgage, compared to over 90% of buyers aged 44 and under. With all-cash sales now making up 32% of all transactions, boomers are playing a major role in keeping the market moving.

Boomers Feel Less Financial Pressure

Another advantage? Boomers are far less likely to report making sacrifices to afford their home. While millennials and Gen Z are cutting spending, postponing vacations, or taking side jobs, boomers are using their financial stability and home equity to make smooth moves.

That said, even confident buyers like boomers face familiar challenges—finding the right home continues to be a top concern.

Real Estate Agents Still Matter—A Lot

Regardless of age, buyers and sellers continue to rely heavily on real estate agents.

According to the NAR report:

• Agents are the #1 resource for buying and selling homes, ahead of mobile search tools or online platforms.
  
• Buyers look to agents for help finding the right home, negotiating price and terms, and completing paperwork.
  
• Sellers rely on agents to price their home competitively, market it effectively, and make smart pre-sale improvements.
  

The takeaway? Even in the age of technology, personal guidance from a professional still plays a critical role in real estate transactions.

How the Generations Compare

Here are a few more highlights from NAR’s latest generational trends report:

• Gen X (45–59) has the highest household income: a median of $130,000.
  
• Older millennials (35–44) follow closely at $127,500.
  
• Millennials lead the first-time buyer category: 71% of younger millennials and 36% of older millennials were first-time buyers.
  
• Gen Z women (18–25) are making moves: 30% of buyers in this group were single females.
  
• Gen Xers are the most likely to buy multigenerational homes to accommodate kids and aging parents.
  
• Boomers are more likely to buy new construction—about 30% did—often to avoid renovations and customize their space.
  
• Nearly 20% of buyers over 60 purchased senior-related housing, including detached homes, condos, and townhomes.
  
• Younger buyers were the most likely to make compromises on price, condition, or size.
  
• 27% of younger millennials used a gift from family or friends toward their down payment.
  
• Boomers moved the farthest—a median of 35 miles from their previous residence.