The share of first-time home buyers dropped from 24% to 21%, with younger Millennials leading at 60%, though down from 71%. Millennials have the highest median income but face challenges from rising home prices and mortgage rates, leading many to choose multi-generational living. Baby Boomers remain the largest group of buyers (42%) and sellers (55%), often using home sale proceeds for new purchases. Generation Z buyers increased slightly to 4%, showing diverse demographics and preferences for smaller, nearby homes.
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