When the housing market begins to recover, Generation X adults (ages 31-45) will likely lead the way, according to a panel of Real Estate experts who delivered an educational ‘webinar’ presented by the Nation Association of Home Builders (NAHB). While Generation X is not the largest generation, it makes up the most mobile of the generations, there are in the prime of their careers, and hey need to accommodate growing families, the panel experts say.
Community amenities are important to Generation X buyers, and many look for homes on large lots in suburban locations. They also want more storage, an open floor plan and flexibility in the garage. “While Gen X numbers are smaller than the birth cohorts before and after them, their numbers have been enlarged by steady immigration,” says NAHB chief economist Dave Crowe. “Gen X may wait longer than their predecessors to establish their own household or buy a home because of the recent recession impacts, but the trends are still likely to occur as they have for past generations.”
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Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900