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!
BIOPHILIC DESIGN 101 — A BRIEF OVERVIEW
As the luxury real estate market continues to evolve, buyers and sellers are increasingly looking for ways to create homes that are not only beautiful and functional, but also promote health and well-being. One trend that has emerged in recent years is biophilic...
When Showcasing My luxury Property, What Are The Best Options?
As a luxury real estate agent, I know that presentation is everything. When it comes to showcasing a luxury property, there are several options available, including staging, video tours, and photo tours. Each of these options has its own advantages and disadvantages,...
About Luxury Homes in Utah
About Luxury Homes in Utah Utah is a state known for its natural beauty, outdoor recreation, and friendly communities. It's also home to some of the most luxurious properties in the country. If you're in the market for a high-end home in Utah, you're in luck. Here's a...
Should you Stage your home in order to sell it?
Should you Stage your home in order to sell it? Staging your home can be a great way to make it more appealing to potential buyers and increase your chances of selling it quickly and for a higher price. Staging involves arranging furniture and decor in a way that...
Falling out of Love with Your House? It May Be Time To Move.
Falling out of Love with Your House? It May Be Time To Move. Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it...
Why luxury home buyers are moving to Utah
Why Are Luxury Home Buyers Moving to Utah? Utah has become a popular destination for luxury home buyers in recent years. The state's natural beauty, booming economy, and high quality of life are just a few of the reasons why people are flocking to the area. One...
Top must haves luxury home buyers like the most
Top must haves luxury home buyers like the most Smart home technology: This refers to a variety of features that allow homeowners to control various aspects of their home through their smartphone or other devices. Examples include smart thermostats, lighting systems,...
What do luxury home buyers want in an outdoor kitchen?
What do luxury home buyers want in an outdoor kitchen? According to industry experts, luxury home buyers are looking for outdoor kitchens that offer a seamless transition from indoor to outdoor living spaces. They want kitchens that are functional, stylish, and...
Insights on the luxury real estate demand for 2023
Insights on the luxury real estate demand for 2023. According to industry experts, the demand for luxury real estate is expected to continue to grow in the coming years. This is due to a number of factors, including the increasing number of high net worth individuals,...
List of features that luxury home buyers typically look for in a home:
List of features that luxury home buyers typically look for in a home: 1. Location: Luxury home buyers often look for homes in prime locations, such as waterfront properties, gated communities, or exclusive neighborhoods. 2. Size: Luxury homes are typically...