The National Association of Realtors 2021 Home Buyers and Sellers Generational Trends report shows that the popularity of multigenerational homes increased over the last year, as a large number of homebuyers purchased larger residences compared to prior years.
According to the study, during the last year, 18 percent of homebuyers between ages 41-65 purchased a multigenerational home—a home that will house adult siblings, adult children, parents or grandparents.
Homebuyers ages 75-95 were the second most likely to purchase a multigenerational home, and were most likely to purchase senior-related housing, at 27 percent.
Additionally, the study from NAR shows that some 19 percent of older Baby Boomers—ages of 66-74—and 18 percent of Generation X—ages 41-55—were most likely to purchase a new home to prevent having to do renovations or older-house problems.