801-205-3500 or 801-205-1600 Gales@UtahRealty.us

Are Older Generations Really Not Selling Their Homes?

Are Older Generations Really Not Selling their Homes? | MyKCM

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:

Are Older Generations Really Not Selling their Homes? | MyKCM

As we can see, they have plenty of reasons to sell their current home! But what type of homes are they trading in?Are Older Generations Really Not Selling their Homes? | MyKCM

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!

Stop Wondering What Your Budget Is & Get Pre-Approved

Stop Wondering What Your Budget Is & Get Pre-Approved

Stop Wondering What Your Budget Is & Get Pre-Approved! In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out....

Your 6-Month Mortgage Rate Forecast

Both mortgage interest rates and home prices are projected to rise throughout 2019. If you plan on buying a home this year, the time is now! Let's get together to discuss your plans today!

5 Reasons to Sell Your House This Summer with Utah Realty

5 Reasons to Sell Your House This Summer with Utah Realty

5 Reasons to Sell Your House This Summer with Utah Realty Here are 5 compelling reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest Buyer Traffic Index  from the National Association of Realtors (NAR) shows that buyer demand...

Utah Gen X Time For Your Dream Home

Utah Gen X Time For Your Dream Home

Time for Your Dream Home, Gen X! During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation...

3 Things to Know in the Housing Market Today in Utah!

3 Things to Know in the Housing Market Today in Utah!

3 Things to Know in the Housing Market Today! A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet. The following three areas of...

2 Myths Holding Back Utah Home Buyers

2 Myths Holding Back Utah Home Buyers

2 Myths Holding Back Home Buyers Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that, “For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of...

What is Important to Boomers when Selling their House

What is Important to Boomers when Selling their House

What is Important to Boomers when Selling their House? If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer...

Pin It on Pinterest

Share This

Share This

Share this post with your friends!