Younger Boomers Trading Up, Older Boomers Staying Put

baby boomers real estate
baby boomers real estate

It's not your grandma's housing market anymore -- a fact that baby boomers are dealing with in very different ways, according to a new report. Coldwell Banker released a survey that throws a wrench in the notion that all boomers belong to one homogeneous group. The results show that younger baby boomers are far more keen on buying up than their older peers. HuffPost 50 reports:

The survey's findings present a much more dynamic picture of the current real estate market when the general term "boomer" was divided into "Younger Baby Boomers" aged 47-55 and "Older Baby Boomers" aged 56-64.

According to the survey's results, Younger Boomers are both more likely to be interested in purchasing a second home and seeking out a single family home over older boomers. The most staggering divide between young and older boomers can be seen in those looking for a larger home, where 31 percent of respondents say younger boomer clients are selling their current home and looking for more space, compared to just 6 percent of agents who report older boomers are looking to do the same.

Read the full story at The Huffington Post.