About 47 percent of younger millennials (ages 24 to 32) bought a house in the United States in 2022 because they desired to have their own home compared to 37 percent of the older millennials. For the older generations, like the older boomers (ages 68 to 76) and the silent generation (ages 77 to 97), the main reason for purchasing homes in 2022 was to move closer to family, friends, and relatives.
Main reason for timing of home purchase in the United States in 2022, by generation
Basic Account
Get to know the platform
You only have access to basic statistics.
This statistic is not included in your account.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Gen Z and the housing market in the U.S.
Introduction
7
- Premium Statistic Homeownership expectations of adults in the United States in 2020, by generation
- Premium Statistic Living arrangements of 18-24-year olds in the U.S. 2023, by gender
- Premium Statistic Reasons why Gen Zers want to buy a house in the U.S. 2022
- Premium Statistic Reasons why Gen Zers want to continue renting in the U.S. 2021
- Premium Statistic Home buyers in the U.S. 2022, by generation
- Premium Statistic Home sellers in the U.S. 2022, by generation
- Premium Statistic Length of current tenure of Gen Z adults in the U.S. 2021
Home buying
8
- Premium Statistic Leading metros for Gen Z house buyers in the U.S. in 2022
- Premium Statistic Share of Gen Z planning a home purchase in the U.S. Q3 2019-Q2 2023
- Premium Statistic Share of Gen Z actively looking for a home in the U.S. Q3 2019-Q2 2022
- Premium Statistic Share of prospective home buyers who prefer a new home 2021-2023, by generation
- Premium Statistic Main reason for timing of home purchase in the U.S. 2022, by generation
- Premium Statistic COVID-19 effect on homeownership plans U.S. 2020, by ethnicity and demographic
- Premium Statistic U.S.: COVID-19 effect on homeownership plans parents 2020, by generation
- Premium Statistic Gen Z's current and preferred home location in the U.S. 2021
Home financing and affordability
7
- Premium Statistic Median income of home buyers in the U.S. 2022, by generation
- Premium Statistic Average down payment in the leading metros for Gen Z house buyers in the U.S. in 2022
- Premium Statistic Average mortgage loan in the leading metros for Gen Z house buyers in the U.S. 2022
- Premium Statistic Credit score in the metros with the highest share of Gen Z home buyers U.S. 2022
- Premium Statistic Leading obstacles to homebuying for Gen Zers in the U.S. 2022
- Premium Statistic Buyers able to afford less than half of homes for sale U.S. 2020-2023, by generation
- Premium Statistic Homebuyers who struggle to find a home due to affordability U.S. 2023, by generation
Renting
7
- Premium Statistic Breakdown of apartment applicants in the U.S. 2021, by generation
- Basic Statistic Most important apartment features for renters in the U.S. 2020, by generation
- Premium Statistic Credit score for renting different apartments in the U.S. 2020, by generation
- Premium Statistic Most popular metros for Gen Z apartment applicants in the U.S. 2021, by metro
- Premium Statistic Most popular cities for Gen Z apartment applicants in the U.S. 2021, by city
- Premium Statistic Increasingly popular cities for Gen Z apartment applicants the U.S. 2021
- Premium Statistic Gen Z touring preferences when looking for a rental apartment in the U.S. 2020
Further related statistics
18
- Share of homeowners living in first home in the U.S. 2019, by generation
- Italy: attitudes towards buying houses 2017
- First steps during homebuying process in the U.S. 2022
- Expectations of homebuyers from real estate agents in the U.S. 2022
- Benefits provided by real estate agents in the U.S. 2022
- First steps during the homebuying process in the U.S. 2022, by age group
- Marital status of home buyers in the U.S. 2022, by age group
- Location of home purchase in the U.S. in 2021, by age group
- Most difficult steps of the homebuying process in the U.S. 2022
- Location of homes purchased in the U.S. in 2021
- Home sellers in the U.S. 2022, by race
- Home sellers in the U.S. 2022, by household income
- Properties viewed before making a purchase offer in the United Kingdom (UK) 2015
- Properties that homeowners liked but could not buy in the United Kingdom (UK) 2015
- Buyers of prime country houses in the UK 2014, by age
- Origin of foreign buyers of residential property New York 2022
- Share of homeowners with regrets about their purchase in the U.S. 2019
- Generational breakdown of time spent watching TV and streaming video Australia 2019
Further Content: You might find this interesting as well
Statistics
- Share of homeowners living in first home in the U.S. 2019, by generation
- Italy: attitudes towards buying houses 2017
- First steps during homebuying process in the U.S. 2022
- Expectations of homebuyers from real estate agents in the U.S. 2022
- Benefits provided by real estate agents in the U.S. 2022
- First steps during the homebuying process in the U.S. 2022, by age group
- Marital status of home buyers in the U.S. 2022, by age group
- Location of home purchase in the U.S. in 2021, by age group
- Most difficult steps of the homebuying process in the U.S. 2022
- Location of homes purchased in the U.S. in 2021
- Home sellers in the U.S. 2022, by race
- Home sellers in the U.S. 2022, by household income
- Properties viewed before making a purchase offer in the United Kingdom (UK) 2015
- Properties that homeowners liked but could not buy in the United Kingdom (UK) 2015
- Buyers of prime country houses in the UK 2014, by age
- Origin of foreign buyers of residential property New York 2022
- Share of homeowners with regrets about their purchase in the U.S. 2019
- Generational breakdown of time spent watching TV and streaming video Australia 2019
National Association of Realtors. (March 28, 2023). Main reason for timing of home purchase in the United States in 2022, by generation [Graph]. In Statista. Retrieved May 04, 2024, from https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/
National Association of Realtors. "Main reason for timing of home purchase in the United States in 2022, by generation." Chart. March 28, 2023. Statista. Accessed May 04, 2024. https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/
National Association of Realtors. (2023). Main reason for timing of home purchase in the United States in 2022, by generation. Statista. Statista Inc.. Accessed: May 04, 2024. https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/
National Association of Realtors. "Main Reason for Timing of Home Purchase in The United States in 2022, by Generation." Statista, Statista Inc., 28 Mar 2023, https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/
National Association of Realtors, Main reason for timing of home purchase in the United States in 2022, by generation Statista, https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/ (last visited May 04, 2024)
Main reason for timing of home purchase in the United States in 2022, by generation [Graph], National Association of Realtors, March 28, 2023. [Online]. Available: https://www.statista.com/statistics/448321/reason-for-timing-of-home-purchase-usa-by-generation/