Older Boomers Enter ‘Cash Is King’ Era as 46% Buy Homes Outright Without a Mortgage

Nearly half of baby boomers buying homes are making all-cash offers, according to a new report.Among boomers aged 71 to 79, 46% purchased their home without financing, while 39% of boomers aged 61 to 70 paid cash, according to the National Association of Realtors® 2026 Generational Trends Report.For comparison, 26% of all buyers paid cash for their home, a share that shrinks to just 3% for younger millennials and 7% for older millennials.Among baby boomers who did finance their homes, 26% of younger boomers and 35% of older boomers used financing to account for less than 50% of the cost of their home, compared with 13% of buyers aged 18 to 26 and 12% of buyers aged 26 to 35. It shows that even when boomers pursue financing, they're financing much less of the cost of the home than other generations.That's because boomers are often economically advantaged, having purchased and built equity in a previous property."Older boomers aren’t necessarily rejecting mortgages. Instead, they are often converting equity in their current home into a new home. At ages 71 to 79, the question is less ‘Can I qualify for a loan?’ and more ‘Would taking on a monthly payment improve my retirement plan?’"...