Skip To Content

    Moving or Aging in Place – What would you prefer?

    Baby Boomer silent Generation Age in Place or moving

    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. Abbitt Realty serving Newport News, Hampton, Gloucester and Williamsburg looked into The 2019 Home Buyers & Sellers Generational Trend Report by NAR which 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:

    Are Older Generations Really Not Selling their Homes? | MyKCM

    As we can see, they have plenty of reasons to sell their current home! But what type of homes are they trading in?Are Older Generations Really Not Selling their Homes? | MyKCM

    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!

    Courtesy of Keeping Current Matter

    Trackback from your site.

    Leave a Reply