Smaller Homes Are Selling Quickly: Both Young Couples And Aging Seniors Want Them
November 24, 2021
9
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1:03Now PlayingSmaller Homes Are Selling Quickly: Both Young Couples And Aging Seniors Want Them
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as posted by the channelSmaller homes are becoming the trend among aging seniors and young couples. Check out the video to learn more!
Welcome back to Bold TV with Katelyn Quisenberry. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
With smaller homes growing more popular with aging seniors and young couples, they are becoming increasingly more difficult to find. Young people are beginning to buy starter homes and aren’t ready to completely settle down. They are just transitioning to the suburbs and thinking of starting families.
At the same time, older buyers are joining the market for smaller and easier to maintain houses. This means there are two different age groups competing for the same type of house on the same market.
Lawrence Yun, a chief economist for the National Association of Realtors said about 28% of real estate transactions were characterized as downsizing in 2020 alone. It’s not great when you combine this with the competition with skyrocketing house prices and labor and constructions shortages. It doesn’t help that the housing market isn’t easy to jump into.
Where will we see the housing market go from here? Let us know in the comments below!
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