If you’re hoping to find a home to buy, the baby boomer generation might be the answer. As the second-largest generation in US history, baby boomers are on the move, freeing up more houses.
Many baby boomers, age 66-74, are empty nesters and have retired, prompting a move to a new house. Many boomers are moving closer to their kids, which means moving out of state in some cases. Boomers are also moving south, especially Arizona, to take advantage of the warmer climate. All of this can open up opportunities for you to find a house to buy.
- Retired, empty nesters
- Seeking smaller homes
- Moving away from areas with schools
Are there enough boomers selling houses to aid in your quest to find a home to buy? Approximately 43 percent of home sellers are boomers, providing an adequate supply of homes to be purchased by younger generations. Most of the time, boomers are looking for smaller homes, averaging 1900 square feet. This results in larger homes becoming available for generations growing their families, and needing extra space.
If boomers are selling their homes, aren’t they buying up other homes, making it less likely that you’ll find a house of your own? Many boomers are moving into senior-oriented communities and closer to hospitals and away from schools. This leaves today’s home buyers with more opportunities to buy houses near schools and in areas with families.
To find a baby boomer house for sale in your area, reach out to a local real estate agent who is proactively tracking the movement of baby boomers. They know neighborhoods where the population is aging and the likelihood of homeowners moving out is high. Real estate agents are the first to know when boomer homes hit the market and, therefore, can give you an advantage over other home buyers who choose not to work with a real estate agent.
If you need help finding a local real estate agent, don't hesitate to get in touch with us at info@reazo.com . We want you to be able to take advantage of the boomer movement and find a home to buy sooner rather than later.