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!
Remote Work Is Changing How Some Buyers Search for Their Dream Homes
Remote Work Is Changing How Some Buyers Search for Their Dream Homes The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million...
What is Housing going to do this fall in Salt Lake County?
Housing is always a hot topic in Utah and the anticipated Fall housing market in Salt Lake County. As seasons change, so do the dynamics of real estate, and we are here to provide you with an insightful glimpse into what can be expected in this vibrant and dynamic...
Plenty of Buyers Are Still Active Today
Plenty of Buyers Are Still Active Today Some Highlights Holding off on selling your house because you believe there aren’t any buyers out there? Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and...
Should Baby Boomers Buy or Rent After Selling Their Houses?
Should Baby Boomers Buy or Rent After Selling Their Houses? Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different...
Today’s Housing Market Has Only Half the Usual Inventory
Today’s Housing Market Has Only Half the Usual Inventory Some Highlights There are only about half the number of homes for sale compared to the last normal years in the market. That means buyers don’t have enough options right now. So, if you work with an agent to...
Why You Need a True Expert in Today’s Housing Market
Why You Need a True Expert in Today’s Housing Market The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your...
How To Get Property Tax Relief In Salt Lake County. Elderly Or Low Income
How To Get Property Tax Relief In Salt Lake County. Elderly Or Low Income Navigating through the maze of property taxes can be a daunting task, particularly for the elderly or those with low incomes. However, in Salt Lake County, there are several options available to...
People Want Less Expensive Homes – And Builders Are Responding
People Want Less Expensive Homes – And Builders Are Responding In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low...
55 Plus Townhomes Reviewed
As the demand for comfortable and inclusive living spaces for seniors continues to rise, it's crucial to understand the key factors that make a community truly exceptional. In this piece, we will specifically focus on the South Jordan and Daybreak areas in Utah...
What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults
What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults Welcome to the Utah Realty Blog Article where we delve into the reasons why Garden Park Town Homes in Daybreak South Jordan is an exceptional choice for 55 and older...