inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/west usa logo revised.jpg
Extraordinary Real Estate Services by The Lisa Miguel Team!
  • Home
  • My Listings
  • Search Listings
  • Communities
  • Blog
  • About
    • Testimonials
  • Contact
inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/Lisa half shot.jpg
480-444-6058
lisamiguel@cox.net
Sign In
Sign Up
inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/west usa logo revised.jpg
Extraordinary Real Estate Services by The Lisa Miguel Team!
  • Home
  • My Listings
  • Search Listings
  • Communities
  • Blog
  • About
    • Testimonials
  • Contact
inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/west usa logo revised.jpg
Extraordinary Real Estate Services by The Lisa Miguel Team!
inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/content/2019/04/Blog image 4-24.jpg

New Study Reveals One Surprising Reason for the Inventory Shortage

inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/Lisa half shot.jpg
Lisa Miguel,04/24/2019

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.

While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.

Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market.

If millennials are unable to find a home to buy at a young age like their predecessors, then who is living in those homes?

The answer: Seniors born after 1931 are staying in their homes longer than previous generations, instead choosing to “age in place.”

Freddie Mac found that,

“this trend accounts for about 1.6 million houses held back from the market through 2018, representing about one year’s typical supply of new construction, or more than half of the current shortfall of 2.5 million housing units estimated in December’s Insight.

Older Americans prefer to age in place because they are satisfied with their communities, their homes, and their quality of life.”

According to the National Association of Realtors, inventory of homes for sale is currently at a 3.5-month supply, which means that nationally we are in a seller’s market. A ‘normal’ housing market requires 6-7 months inventory, a level we have not achieved since August 2012.

“The most important fundamental in today’s housing market is the lack of houses for sale. This shortage has been identified as an important barrier to young adults buying their first homes.”

 

Bottom Line

If you are one of the many seniors who desires to retire in the same area you’ve always lived, you’re not alone. Will your current house fit your needs throughout retirement? If you have any questions about demand for your house, let’s get together to discuss the opportunities available today!

 

 

Source: Real Estate with Keeping Current Matters

Print Details
Previous post
Next post
Smile Weekend Warriors! It’s your Weekend!
New Home Sales Rise in March with Lower Rates

Office

Office

About us

  • Home
  • My Listings
  • Search Listings
  • Communities
  • Blog
  • About
  • Contact
  • Testimonials

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information you seek through an alternate communication method.
inception-app-prod/ZDEyOGEzZjItODA2Mi00ZGNmLWI5MjUtNTY5YmIwOTk2MjNj/logo/2016/09/west usa logo revised.jpg

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link