When writing this article, I realized that some readers may be uncomfortable with this observation: Some members of the “baby boomer” generation now also meet the definition of “senior”.
The U.S. Department of Housing and Urban Development defines a senior as an individual who is 62 years of age or older.
Here in the Tri-Valley, and across the country, older boomers are an active and influential force in real estate and one that often gets lost in the headlines.
According to the National Association of Realtors’ “2025 Home Buyers and Sellers Generational Trends” report, baby boomers now make up the largest generational group of home buyers, with younger and older boomers combined accounting for 42% of all home purchases in the past year.
By comparison, millennials accounted for 29% of buyers, down from the year prior, while Generation X held steady at 24%.
“We talk a lot about younger buyers in today’s market, and rightfully so, but baby boomers are an equally important part of the conversation. In the Tri-Valley, we see older buyers and sellers who are well-prepared, financially strong, and very intentional about their next move. That’s a segment of the market that deserves attention,” said Bill Espinola, 2026 president of the Bay East Association of Realtors.
A key driver of boomer activity is financial position. According to the NAR study, half of older boomers and roughly two in five younger boomers are purchasing homes entirely with cash. Younger buyers, by contrast, rely much more heavily on financing.
Both paths reflect the realities of each generation’s stage of life, and both matter to understanding the full scope of today’s market.
On the selling side, boomers are equally prominent. They account for 53% of all home sellers nationally, and older boomers typically hold their homes for about 16 years before selling compared to five years for younger millennials.
That long tenure connects to a broader trend worth watching. Recent reports show that empty-nest boomers own 28% of the nation’s homes with three or more bedrooms, while millennials with children own 16% of those same homes.
“One of the quieter stories in our local market is how the decisions some seniors make about their homes ripple out to everyone else. When an empty-nester in a city like Pleasanton decides it’s time to downsize, that opens the door for a buyer who may have been waiting for exactly that kind of home. Every generation in this market really is connected,” Espinola said.
The reasons boomers stay put are varied and understandable. NAR says nearly three in five boomer homeowners have a home that’s fully paid off, giving them little financial pressure to sell. Many also have deep ties to their neighborhoods and communities. And even those who want to downsize often struggle to find reasonably priced, move-in ready smaller homes that fit their needs.
At the same time, there are signs of gradual movement. Affordability is slowly improving, and some older homeowners are beginning to make their move, creating opportunities for buyers across generations when they do.
“Whether you’re a boomer or senior thinking about your next chapter or a younger buyer trying to get into the market for the first time, the simple first steps are the same. Know your goals, understand your options, and work with a local Realtor who knows this market. There’s opportunity here for buyers and sellers at every stage of life,” Espinola added.
The local housing market, like the broader national one, is shaped by buyers and sellers of all ages. Younger generations are working hard to get in, and older ones are making thoughtful decisions about what comes next.
Understanding both sides of that equation is essential for consumers, and for anyone trying to make sense of where the market is heading.
Editor’s note: Devin Davis is a public affairs specialist for the Bay East Association of Realtors, which is based in Pleasanton.