According to the National Association of Realtors, Baby Boomers not Gen Xers are the future of the Real Estate market. Gen Xers are currently facing many roadblocks on their way to first-time home ownership. Stricter credit guidelines along with increasing number of banks requiring full 20 percent down payments are making it difficult for the younger generation to buy homes.

 Boomers, classified as individuals between the ages of 47-65, currently make up over one third of all households in America and 12 percent of change of address in the past year. The experienced home buyer has multiple advantages over first-timers, who were traditionally thought to be the backbone of the market. An older buyer can theoretically “swap” houses and trade up, considering the widespread affordability in the market at present time.  Additionally, older buyers may have more disposable income to put down on their new home due to longer savings careers as well as willingness to part with money for something just right. According to Sharon Dworken Bell at the 50+ Housing Council at the National Association of Home Builders says, “Boomers are looking for something different.” Boomers want homes that fit their needs, with master bedrooms on the first floor and open floor plans, and are willing to pay the price, or even build new to get their desires for their retirement years.  

 For the first time in years repeat buys make up 56 percent of home sales, a 40 percent jump in just the past year. A staggering 62 percent of these repeat buyers are over the age of 45. Unfortunately, many Boomers are reluctant to invest in the market that has seen better days and fear losing savings in their last years of earning. 

Story via Aol Real Estate