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- Looking at the data from NAR’s 2005-2014 Profile of Home Buyers and Sellers, first-time home buyers were more likely to live with parents, relatives or friends prior to purchasing a home than repeat buyers.
- For recent home buyers the percentage living with parents, relatives or friends prior to purchasing a home has remained consistent over the last 10 years, with an average of 11% of all buyers.
- The typical age of first-time homebuyers in 2014 was 31-years-old. First-time buyers made up a larger share of those who lived with relatives or friends prior to purchasing a home in comparison to repeat buyers who in 2014 were typically 53-years-old.
- Over the last decade an average of 19% of first-time buyers and 5% of repeat buyers lived with relatives or friends.
- The U.S. Census recently published an interactive infographic exploring how young adults, aged 18-34, have changed over the last 40 years.
- Over the last 13 years the percent of young adults living with a parent has increased from 23.2% to 30.3%.
- While the percentage of recent homebuyers who have previously lived at home has not increased to the same degree as the percentage of young adults living with a parent, the increase does show why the percentage of first-time buyers living with family or friends may not have decreased over recent years.
- For more information on this research, check out the 2014 Profile of Home Buyers and Sellers: http://www.realtor.org/reports/highlights-from-the-2014-profile-of-home-buyers-and-sellers and the U.S. Census Interactive Infographic: Young Adults Then and Now: http://www.census.gov/censusexplorer/censusexplorer-youngadults.html?sf6371858=1.
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