How Come There Is Nothing FOR SALE?? #TimeToSell #5StarREALTOR #HyperLocal

By
Real Estate Agent with Allison James Elite CA. BRE 01501699
https://activerain.com/droplet/5j7X

New Study Reveals One Surprising Reason for the Inventory Shortage

New Study Reveals One Surprising Reason for the Inventory Shortage | MyKCM

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!

About Me

My photo
Chris B. Johnson REALTOR® Specializes in Luxury Estates and Home Auctions. Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve. I believe in Quality, NOT Quantity.

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

 

https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/

Posted by

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
California Ventura County
Tags:
how come there is nothing for sale timetosell 5starrealtor
new study reveals one surprising reason for the inventory shortage
there has been a great amount written on millennials and their impact on the housing mar

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
59,556
Diane Lombardino
Keller Williams Realty of Jupiter - Palm Beach Gardens, FL

Great article! This is very interesting! I do notice the trends in regards to seniors living in their homes and communities for longer time! Also its great to learn about the information concerning Millennials.😊

Apr 24, 2019 10:47 AM #1
Rainmaker
584,816
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity

There is only one certain thing in life, and that is CHANGE :) We all need to be adaptable when the market changes because is new normal is that there is no normal Diane Lombardino 

Apr 24, 2019 10:50 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
584,816

Chris B Johnson REALTOR®

5 Star Rated REALTOR® Quality, Not Quantity
Is it Too Late to Short Sell My Home??
*
*
*
*
Spam prevention

Additional Information