Want More Sellers & Buyers?
According to the 2015 National Association of Realtors Home Buyer and Seller Generational Trends study, Baby Boomers represented 31% of all buyers . This trend continues. About half of these are “older Boomers” – ages 61 to 69. In addition to the Baby Boomers, the Silent Generation (ages 70 to 89) constitute another 10% of all buyers. Research firm HouseCanary points out, “Boomers have historically fueled the housing market as they entered each stage of life,” and this generation will “fuel household growth over the next 20 years due to significant wealth and high homeownership rates.”
Home Equity COnversion Mortgage for purchase programs are a great way to stimulate activity in your business. Many retiree clients would consider moving to a more appropriate home for their lifestyle needs if they knew they could make the move while maintaining their finances.
In 2014 – 4.2 million people of retirement age moved into a new!
What does that mean to you? Many real estate professional don’t view retirement age homeowners as a viable resource for business. Don’t be fooled.
Many senior homeowners find themselves living in a home that was once ideal for them during the time they were raising their family but now is not a good fit.
The baby boomer generation represents an important opportunity for a real-estate professional to serve a rapidly growing market of people who are motivated to sell their current home and buy a different one for retirement. This may mean “down-size” or “right-size” or may mean closer to family or friend.