Baby Boomers 1946 Thru 1964

Dated: 06/06/2019

Views: 84

What is Important to Boomers when Selling their House?

What is Important to Boomers when Selling their House? | MyKCM

If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.

The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.

Percentage of Buyers who Looked Online First

  • All Buyers: 44%

  • Younger Boomers: 46%

  • Older Boomers: 44%

Where Boomers Found the Home They Purchased

The two major ways buyers found the home they purchased:

  • All buyers: 50% on the internet, 28% through a real estate agent

  • Younger Boomers: 46% on the internet, 33% through a real estate agent

  • Older Boomers: 36% on the internet, 35% through a real estate agent

Distance Seller Moved

The distance between the home they purchased and the home they recently sold was much greater for boomers than the average seller.

  • All sellers: 20 miles

  • Younger Boomers: 27 miles

  • Older Boomers: 50 miles

Tenure in Previous Home of Seller

The percentage of older boomers who lived in their previous home for more than 20 years was almost twice the amount of the average seller.

  • All sellers: 16%

  • Younger Boomers: 20%

  • Older Boomers: 31%

Primary Reason to Sell their Previous Home

  • Want to move closer to friends or family

  • Home too large

  • Retirement

View of Homeownership as a Financial Investment

  • 83% of Younger Boomers see homeownership as a good investment

  • 82% of Older Boomers see homeownership as a good investment

Bottom Line

If you are a boomer and thinking about selling, now might be the time to contact an agent to help determine your options, Then call me Becky Shiffer 541-913-9910 I Understand that Behind Every Door Someone's Life is Happening" and I respect that.

Latest Blog Posts

You Need More Than A Guide You Need A Sherpa

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone you can turn to who will tell you how to price

Read More

3 Signs The Housing Market Is On The Rebound

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound:1. Existing Home Sales (closed

Read More

What To Expect From Your Home Inspection

You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection.This

Read More

How Does The Supply Of Homes For Sale Impact Buyer Demand

The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate

Read More