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!
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...
Home Prices Are Back on the Rise
Home Prices Are Back on the Rise Some Highlights Looking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally. If you’ve put your plans to move on pause because you were worried about...
About 11,000 Houses Will Sell In The USA Today
About 11,000 Houses Will Sell Today Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a...
There’s Only Half the Inventory of a Normal Housing Market Today
There's Only Half the Inventory of a Normal Housing Market Today Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today. You may have heard inventory is low right now,...
Things To Know When Getting Ready To Buy A Home
Things To Know When Getting Ready To Buy A Home Are you in the market to buy your dream home? Congratulations! This is an exciting step in your life, but it can also be overwhelming and confusing at times. From navigating the financial aspects to understanding the...
Considering Selling Your Home As A Senior?
Considering Selling Your Home As A Senior? Let A Senior Real Estate Specialist (SRES) Be Your Guide! Are you a senior considering a move or possibly selling your home? Making decisions related to real estate can be overwhelming, especially as you enter the golden...