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!
The Home Search Video 3
Time to start your home search! The best way to get homes you like is to use our Exclusive Home Search Tool! We Bring You Newly Listed Properties When Ever any Broker or Agent in the State Lists a Property!
Buying a Home in Utah
Sometimes I don't use all 8 of my Designations my friends >>>.... But sometimes I do! Don't settle for less go with the Best! Martin Gale, MCNE, CNE, CPRES, CRS, ABR, CDPE, SFR, EPRO. OVER 30 YEARS FULL TIME EXPERIENCE [video...
The Mortgage Process
Finding the Right Lender is so Important! Find an Experienced Loan Officer Head over to our Preferred...
Knowing When You are Ready to Buy
Using a Master Certified Negotiation Expert Will Get You the Best Deal! UtahRealtyPlace.com/buying Watch for Episode 2 Tomorrow!
Millennials Rock
https://bit.ly/2AZfFLJ
5 Reasons
https://bit.ly/2OKMAGR
Utah Realty Ribbon Cutting – Grand Opening
Utah Realty celebrates it's Association with the West Jordan Chamber of Commerce Celebrating 32 years of success!
Find An Experienced Realtor
87% of real estate agents fail in the first 5 years of entering the industry, according to The National Association of Realtors. 75% of you fail in the very first year, according to NAR. Ouch! Those numbers are sobering for sure, but they are...
6 Tips Before Selling Your Home
Inventories in Utah, Davis, Salt Lake, and Wasatch on the rise again
Taking an inventory of active homes across the Greater Wasatch Front today. As of July 31st we have 8846 active single family homes for sale. Number of units are up from 8436 single family units last month. An inventory increase of 5%. This is from all of the...