Millennials—people ages 28 to 43—make up the largest share of homebuyers nationwide, according to the National Association of Realtors® 2024 Home Buyers and Sellers Generational Trends Report. Millennials comprised 38% of buyers in transactions that occurred between July 2022 and June 2023, up from 28% the previous 12-month period. Meanwhile, baby boomers, who held the top spot among homebuyers last year at 39%, came in second place, accounting for 31% of all purchase transactions.
In the Twin Cities region, for the week ending October 26:
• New Listings increased 10.2% to 1,112
• Pending Sales increased 20.0% to 840
• Inventory increased 9.9% to 10,239
For the month of September:
• Median Sales Price increased 2.4% to $380,000
• Days on Market increased 14.7% to 39
• Percent of Original List Price Received decreased 0.8% to 98.5%
• Months Supply of Homes For Sale increased 12.0% to 2.8