As prices continue to rise and inventory remains disturbingly low, it’s rather surprising to learn in a new report by the National Association of Realtors that first-time homebuyers comprised 34 percent of all purchases in 2021, up from 31 percent the year before.

Millennials purchased 43 percent of homes in 2021, as compared with 37 percent in 2020. Meanwhile, baby boomers – often down-sizing or purchasing second homes – were responsible for approximately 29 percent of all purchases.