That’s according to a new analysis of data from the Federal Financial Institutions Examination Council.
The older segment of the population owns more than half the real estate wealth in the U.S., despite making up less than a third of the population. Older homebuyers are often at an advantage in the housing market, thanks to larger accumulated savings or equity.
However, in most of the U.S., baby boomers aren’t necessarily buying the most homes. Many of them choose to age in place, and homebuyers are usually on the younger end of the spectrum.
This analysis is yet more evidence that retirees are flocking to Wilmington in great numbers.
Data shows warmer climates are a major appeal for those 55 and older — as are recreational activities and a lower tax burden. Southern states like South Carolina and Florida rank highly for older homebuyers. And tax haven Delaware tops the list, with 38% of homebuyers being age 55+.