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!
home price appreciation each month for over a year
Home Value Appreciation Stops Falling, Begins to Stabilize The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer. In a...
Celebrating a Closing
Yvonne is celebrating the purchase of her lovely rambler home. Congratulations Yvonne!
Utah Buyer Demand Will Be Strong for Years
Home Buyer Demand Will Be Strong for Years to Come There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”. And while...
Pet-Friendly Homes Are in High Demand
Why Pet-Friendly Homes Are in High Demand One of the many benefits of owning your own home is the freedom to find your ‘furever’ friend. By pointing out the aspects of your home that make it ‘pet-friendly’ in your listing, you’ll attract these buyers, rather than...
Selling Your Family Home is a Type of Loss
Selling Your Family Home is a Type of Loss It’s easy to tell yourself that your house is just a building made of walls and ceilings and light fixtures and flooring, but when it comes time to sell, you may start to feel the sting of grief. After all, you don’t know if...
3 Graphs About Today’s Real Estate Market
3 Graphs that Show What You Need to Know About Today’s Real Estate Market The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates...
Now is the Time to Move-Up
Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the...
Utah Home Prices Top Three In the Country
Utah home prices increased 9.80 percent in the fourth quarter year-over-year, giving the state the third fastest growing home prices nationally, according to the Federal Housing Finance Agency. Idaho was No. 1, with prices there rising 11.93 percent. North Dakota was...
what credit score do you need to buy a house in utah
What Credit Score Do You Need To Buy A House? There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are...
What’s Going On with Bidding Wars?
https://bit.ly/2TwjTTX