11/19/24

Often, we fill this space with advice and tips on how our fellow real estate professionals can cater to certain demographics and age groups. Millennials have held the real estate world’s attention for years. In 2023, baby boomers were all the rage because they made up the largest population of buyers AND sellers. Even Gen Z gets plenty of press.

But today’s blog is focused on another group worthy of consideration and interest. This piece is all about the X–Generation. Gen X is generally considered those born between 1965 and 1980. While this group often jokes it’s the forgotten generation, buyers and sellers of this age should be commanding our attention. Here are four reasons why: 

Gen Xers have lots of equity and buying power. As they progress in their careers and reach peak earning years, the typical Gen Xer is well positioned to buy a home in almost any market – even as housing affordability becomes a more widespread issue for everyone. Plus, many of these homebuyers have built substantial equity in their current homes over the years and are ready to upgrade to larger, more expensive properties. This shift impacts the demand for mid to high-tier housing and influences the general market’s price trends and housing supply dynamics.

Gen Xers have a wide array of family needs that can change quickly. As a generation often caught between caring for aging parents and managing their own children, Gen X buyers are frequently looking for homes that can support a complex blend of family needs. They’re likely to purchase larger homes and strongly prefer multi-generational properties that provide space not just for their children but also for elderly family members.

Gen Xers understand the benefit of a hardworking real estate professional. Since this group has typically bought and sold a home before, they have a basic understanding of how a real estate transaction works – even if several years have passed. However, they continue to value the deep market knowledge and negotiation skills of seasoned agents, especially when considering significant life transitions such as upgrading to accommodate a growing family or downsizing for retirement. These buyers and sellers want their agents to provide invaluable insights into market trends and help evaluate the potential long-term returns on different properties.

Gen Xers value authenticity and reputation. When trying to reach this generation, digital is key, but so is being real. Most Gen Xers (76%) are on social media, and almost all those who use it, do so daily. Regarding marketing, they don’t like the feeling of being sold to. This generation also puts an added emphasis on online reviews, doesn’t mind email marketing and loves nostalgic messaging. 

One final home-related note on Gen X. This generation also spends the most on home renovations, according to a survey earlier this year. As you can see, Gen X will continue to be a force in the real estate market for years to come. It’s why all of us in real estate need to pay attention to this demographic in 2025 and beyond.

Our teams love working with your customers of all ages to make sure their transactions get to the finish line smoothly and efficiently. Contact us anytime, and let your local branch know how we can best serve you and your clients!