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!
11 Must-Do Actions To Ensure A Smooth Transition Into Your New Residence
11 Must-Do Actions To Ensure A Smooth Transition Into Your New Residence Moving into a new residence marks a significant milestone that brims with excitement and potential. However, to translate this new beginning into a seamless transition, careful planning and a...
3 Helpful Tips for First-Time Homebuyers
3 Helpful Tips for First-Time Homebuyers Some Highlights Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help. Look into homebuyer programs, expand your search area, and consider...
Short list of things that you must get rid of before moving
Embarking on a new chapter of your life by relocating to a different home can be an exciting yet daunting process. The key to ensuring a smooth and stress-free move lies in effective preparation and organization, of which a critical component is the pre-move purge....
What Are Experts Saying About the Spring Housing Market?
What Are Experts Saying About the Spring Housing Market? If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the...
NAR Lawsuit Update – How does this effect Utah Realty?
NAR Lawsuit Update What we Know.... The NAR has reached a settlement agreement on the class action lawsuits relating to the offer of compensation rule. Details are in the link below. There is much to digest and more info and training will come out in the days ahead....
Why Access Is So Important When Selling Your House
Why Access Is So Important When Selling Your House If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to...
Why There Won’t Be a Recession That Tanks the Housing Market
Why There Won’t Be a Recession That Tanks the Housing Market There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to...
The First Step: Getting Pre-Approved for a Mortgage
The First Step: Getting Pre-Approved for a Mortgage Some Highlights If you’re looking to buy a home in 2024, getting pre-approved is a key piece of the puzzle. Mortgage pre-approval means a lender checks your finances and decides how much you’re qualified to borrow....
Why You Want an Agent’s Advice for Your Move
Why You Want an Agent’s Advice for Your Move No matter how you slice it, buying or selling a home is a big decision. And when you’re going through any change in your life and you need some guidance, what do you do? You get advice from people who know what they’re...
How Changing Mortgage Rates Impact You
How Changing Mortgage Rates Impact You Some Highlights If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. That’s because even a small change in mortgage rates can have a big impact...