About 7% of homebuyers ages 61 to 70 said they moved to a bigger house for more space, compared with 4% in 2016, according to the NAR
Affluent baby boomers are bucking the traditional retirement trend, opting to upsize rather than downsize their homes, new National Association of Realtors (NAR) data shows.
Boomers now represent 42% of US home buyers and hold a staggering $110 trillion in total wealth.
About 7% of homebuyers ages 61 to 70 said they moved to a bigger house for more space, compared with 4% in 2016, according to the NAR. Some interviewed by the Wall Street Journal stated they bought larger properties that can accommodate accessibility modifications and host visiting family, among other reasons.
Empty-nest boomers owned 28% of homes with three bedrooms or more, compared to just 16% owned by millennials with children in 2024, per Redfin.
However, the purchasing power of affluent boomers is amplifying housing market pressures and putting homeownership further out of reach for many buyers.
The median price of existing homes in June was $440,660, up 1.8% from 2025.