Multi-Generational Homebuying Hit a Record High – Here’s Why
Multi-Generational Homebuying Hit a Record High – Here’s Why Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR ( see graph below ): And what’s behind the increase? Affordability . NAR explains : “In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home —a significant increase from just 15% in 2015.” In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise. Pooling Resources Can Help Make Homeownership Possible With today’s home prices and mortgage rates, i...