Younger homebuyers are far more open to the idea of buying a foreclosure compared to older buyers, a National Association of Realtors’ (NAR) survey on buyer and seller trends revealed.
Overall, 44 percent of surveyed buyers said they did not consider a home in foreclosure. When broken down by age group, however, only 31 percent of Millennials (32 and younger) said they did not consider purchasing a home in foreclosure compared to 65 percent for buyers aged 67 to 87.
The share of buyers who did not consider a foreclosure increased with age, the NAR found. For example, among Generation X buyers (aged 33 to 47), 43 percent did not consider a foreclosure, while 53 percent of those aged 58 to 66 were in the same category. Tax Reform CFA: Do No Harm
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