Senior Citizens & Housing

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

Now that we're at the stage of our lives where we'll admit we're Senior Citizens I find information regarding seniors and housing interesting. Pam & I are what is called, aging in place, but many seniors sell their homes and move to 55+ active adult communities or sell their homes and buy into a progressive community where you move from independent living to assisted living to a nursing care facility. Whatever seniors decide to do they are an active portion of the current Real Estate market.

 

Seniors Are On The Move In The Real Estate Market

Seniors Are on the Move in the Real Estate Market

Did you know August 21st is National Senior Citizens Day? According to the United States Census, we honor senior citizens today because,

 “Throughout our history, older people have achieved much for our families, our communities, and our country. That remains true today and gives us ample reason…to reserve a special day in honor of the senior citizens who mean so much to our land.

To give proper recognition, we’re going to look at some senior-related data in the housing industry.

According to the Population Reference Bureau,

The number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent.”

Seniors Believe in Homeownership

In a recent reportFreddie Mac compared the homeownership rates of two groups of seniors: the Good Times Cohort (born from 1931-1941) and the Previous Generations (born in the 1930s). The data shows an increase in the homeownership rate for the Good Times Cohort because seniors are now aging in place, living longer, and maintaining a high quality of life into their later years.Seniors Are on the Move in the Real Estate Market | Keeping Current MattersThis, however, does not mean all seniors are staying in place. Some are actively buying and selling homes. In the 2019 Home Buyers and Sellers Generational Trends Report, the National Association of Realtors® (NAR)showed the percentage of seniors buying and selling:Seniors Are on the Move in the Real Estate Market | Keeping Current Matters

Here are some highlights from NAR’s report:

  • Buyers ages 54 to 63 had higher median household incomes and were more likely to be married couples.
  • 12% of buyers ages 54 to 63 are first-time homebuyers, 5% (64 to 72), and 4% (73 to 93).
  • Buyers ages 54 to 63 purchased because of an interest in being closer to friends and families, job relocation, and the desire to own a home of their own.
  • Sellers 54 years and older often downsized and purchased a smaller, less expensive home than the one they sold.
  • Sellers ages 64 to 72 lived in their homes for 21 years or more.

 

I thank the folks at KCM for compiling this information

 

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

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Topic:
Real Estate Market Trends
Location:
Massachusetts
Groups:
FOR SALE BY OWNER - MARKETING(FSBO)
New Hampshire - Real Estate and Life in The Granite State!
MA REALTORS
Boston Area Real Estate
Tags:
housing
elderly
senior citizens
senior care

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Rainmaker
413,154
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

We manage a Senior building for 62+, love my seniors, in which this month I just turned Fifty-Five.  So, I'm loving the Senior Citizens Day!  I'm just waiting for my husband to tell me, we're moving to a senior community, in Arizona or Florida. Somewhere there's no Winter. They may have to be in Hawaii.  Arizona and Florida had snow last year. 

Aug 21, 2019 10:53 AM #1
Rainmaker
3,673,371
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Doug. I think the trends are changing. Many like you and Pam and me are aging in place and want to be as active and engaged as we can.

Aug 21, 2019 01:41 PM #2
Rainmaker
1,971,442
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Doug - for now Phyllis and I are aging in place but open to change.

Aug 21, 2019 02:24 PM #3
Rainmaker
785,249
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Graziella Bruner 

As you are from Detroit I can fully understand your desire for a warmer climate

 

Aug 21, 2019 08:40 PM #4
Rainmaker
785,249
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Sheila Anderson 

I see more seniors staying put too

Aug 21, 2019 08:41 PM #5
Rainmaker
785,249
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Grant Schneider 

That's the difference between you & I ...I'm not open to change with regards to moving

Aug 21, 2019 08:42 PM #6
Rainmaker
2,625,121
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have had quite a few clients that were all about moving into a 55+ community when they were old enough to do so.

Aug 22, 2019 07:26 AM #7
Rainmaker
785,249
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi @Brian,

A couple of my older friends moved into a community where you start out as independent living and move to assisted living if needed then to the nursing care. All this was in the same community.

Aug 26, 2019 09:27 AM #8
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Rainmaker
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Doug Dawes

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