Are Older Generations Really Not Selling Their Homes?
Many studies suggest one of the main reasons for the inventory shortage in today’s market of homes for sale is that older generations have chosen to “age in place” over moving.
The 2019 Home Buyers & Sellers Generational Trend Report by NAR clarifies this point!
NAR’s findings show that Baby Boomers (43%) and the Silent Generation (12%) made up 56% of sellers in 2018! This means the majority of sellers last year were over the age of 54. This also shows these generations ARE moving!
The report also shared the reasons why they chose to move. According to the research, the top reason was a desire to be closer to friends and family. Below is a full breakdown:
As we can see, they have plenty of reasons to sell their current home! But what type of homes are they trading in?
Once again, the report demonstrated that older generations are not keeping that 3-bedroom, 2-bath colonial home. Instead, they are putting it on the market and moving on with their lives!
Bottom Line
If you are living in a house that no longer fits your needs, let’s get together to help you find a home that will!
To view original article, visit Keeping Current Matters.
This Real Estate Market Is the Strongest of Our Lifetime
This is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime.
Real Estate Is Still Considered the Best Long-Term Investment
Real estate was voted the best long-term investment for the 11th consecutive year, beating gold, stocks, and bonds.
Oops! Home Prices Didn’t Crash After All
Home prices didn’t come crashing down and may already rebounding from the minimal depreciation experienced over the last few months.
Keys to Success for First-Time Homebuyers
The best way to make sure you’re set up for success, especially if you’re just starting out, is to work with a trusted real estate agent.
Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off
The pandemic profoundly changed real estate over the last few years. The demand for a home of our own skyrocketed, and needs changed.
The Benefits of Selling Now, According to Experts
Sellers who price and market their home competitively shouldn’t have a problem finding a buyer especially in today’s market.