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Generation Y, the men and women born between 1980 and 1995, face lots of economic challenges these days, including tight credit, high debt, a tough job market, and limited home inventories. But they’re an optimistic group that generally believes in the value of a home as a solid investment.

And, they represent the largest share of recent buyers:

31% Gen Y (born between 1980 and 1995)

30% Gen X (born between 1965 and 1979)

16% Younger Boomers (born between 1955 and 1964)

14% Older Boomers (born between 1946 and 1954)

9% Silent Generation (born between 1925 and 1945)

 

Other interesting statistics about the Gen Y home buyer:

Their median age is 29 years old.

Their median income is $73,600/year.

The average purchase price of their home is $180,000.

 

This compares to the Gen X home buyer:

Their median age is 40 years old.

Their median income is $98,200/year.

The average purchase price of their home is $250,000.

 

If you’re a Gen X or Gen Y adult looking to find the right home investment, talk to us and let our experienced lenders and realtors help you make a smart and affordable home purchase.

Data source: 2014 NAR Home Buyer and Seller Generational Trends study, the California Association of Realtors

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