Originally published by Construction Converge.
First-time home buyers, especially millennials, are fighting an uphill battle in today’s real estate market—in part because of a growing trend in which baby boomers are planning to age in place.
The latest edition of Construction Coverage’s Baby Boomer-Dominant Housing Markets report examines where baby boomers lead in homeownership—and where younger buyers may face limited opportunities in America’s already undersupplied housing market.
Key Takeaways, With Data for Maryland
- Younger generations squeezed out: Homeownership among Americans aged 35–54 dropped from 42.3% in 2008 to 34.0% in 2023. By comparison, the 55+ cohort saw a rapid increase from 44.3% to 54.0% over that span, with boomers specifically—aged 60–78 in 2024—now accounting for more than 37% of homeowners nationwide.
- Boomer homeownership in Maryland: Baby boomers account for 20.4% of the population in Maryland, and 36.7% of the state’s homeowners—the 13th fewest in the country.
