I have wonderful memories of growing up on a farm and living with my grandparents. The lessons they taught me shaped the person I am today, and I wouldn’t trade those experiences for the world. I was just a kid on a farm living together as an extended family. Today we would have been referred to as a “multi-generational” household. Did you know that today there are 6 million U.S. “multi-generational” households that consist of at least three generations of family members? That amazing stat, which is 30 percent higher than in 2000, was included in a recent New York Times article that cited Pew Research findings.
Coldwell Banker is tuned into this trend as well. As reported in Reuters and many other news outlets, we surveyed Coldwell Banker real estate agents across the country and found that 37 percent have seen more families looking for homes that can accommodate multiple generations.
Financial drivers were the primary factor that 29 percent of our agents cited behind this trend. Health care issues were also cited by 29 percent of Coldwell Banker agents as an influencer, while 6 percent cited a strong family bond as a strong factor.
If this topic is of interest to you, I suggest you take a look at this video on Coldwell Banker On Location. Diann Patton, our Coldwell Banker consumer specialist, did a great job in highlighting our survey findings. Diann also provides useful tips for those looking to join the “multi-generational” trend.