Multigenerational Homes

The whole family lives together.  Buyers purchasing a multi-generational home accounted for 14% of all buyers in 2023.  The two most common traits of multigenerational homes are elderly parents living with one of their kids and adult children who have returned home to live with Mom & Dad (or who never left in the first place).  So it’s not surprising that Gen Xers are the most likely to buy a home for multi-generational purposes since they’re of the age that they may have both of those situations arise.  The National Association of Realtors started tracking this subset of buyers back in 2012.  The percentage of these buyers has ranged from 11% to 15%, with the 15% occurring during covid.  I wish we had this data going back a lot longer so we could make comparisons across the last four or five generations.  I expect we’d see that today’s numbers are smaller than say 1900s to the 1940s.

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