Baby boomers overtook millennials last year as the largest segment of the home-buying population as they continue to downsize by buying smaller homes, writes Sandy Smith for the Philadelphia Magazine.

Several trends are driving this rise in home purchases.

The older half of the generation has mostly left the workforce and is now looking for communities where they can live comfortably and get help performing everyday tasks once they need it.

Meanwhile, the younger half are mostly still working. While this group needs space to be able to work from home, they are also at the stage where their children have moved out, so they are looking for a smaller overall space.

Additionally, with many boomers finding it harder to climb the stairs, the demand for homes with main-floor bedrooms has also risen. While new construction often has these, boomers not wanting to buy new houses usually opt for condos.

“For people that are downsizers and boomers, they’ve worked their entire life, and they’re at the place in life where they want the amenities in the building,” said Brian Emmons, vice president of Southern Land Company.

Read more about how boomers overtook millennials last year as the largest segment of the home-buying population in the Philadelphia Magazine.

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