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    We’re NOT Moving!

    We’re NOT Moving! Baby Boomers, the Silent Generation and seniors born after 1931 are deciding to stay home. 

    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.

    baby boomers silent generation aging in place causes housing shortage
    Seniors are Not Moving; Serra Mesa is San Diego’s perfect example

    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.

    According to Freddie Mac

    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.” Essentially saying ‘we’re not moving’. 

    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!

    Gloria Roma 619.993.3734 or Gloria@SanDiegoHomesForSaleCa.com

    Posted in: Seniors Aging In Place, Serra Mesa news Tagged: aging in place, baby boomers, gloria roma, gloria roma real estate agent, Gloria Roma Serra Mesa real estate agent, moving kids san diego, moving to serra mesa, san diego, selling serra mesa house, seniors, Serra Mesa, silent generation, SRES

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    About Gloria

    Gloria Roma helping seniors move
    Gloria Roma works with adult children of seniors when navigating inherited real estate holdings.

     

    Gloria is an accomplished Realtor with over 27 years of cumulative experience in real estate and finance. If you’re buying, Gloria knows how to help you, having been awarded as the TOP 3 Buyers Agent in America. If you’re selling, her showcased estates SELL for up to 18% higher with Gloria’s Proven Home Selling System.

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    Contact Gloria Roma


    7183 Navajo Rd #C
    San Diego, California 92119
    Clark Land Resources, Corporation- Broker
    gloria@sandiegohomesforsaleca.com

    619-993-3734
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