• Real Estate Mindsets of Baby Boomers, Gen Xers and Millennials Real Estate Mindsets of Baby Boomers, Gen Xers and Millennials

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    Real Estate Mindsets of Baby Boomers, Gen Xers and Millennials

    The 2019 real estate market looks substantially different than it did a decade ago. The housing market has evolved each year, as the new generation became first-time home buyers and the senior generation began to downsize. Each generation has different buying behaviors, preferences and goals that are influenced by external factors such as the economy, social norms, technology and government regulation. For example, Baby Boomers are waiting longer in life to downsize than their older Silent Generation counterparts in their senior years. So how does this affect the younger generations?

    Baby Boomers

    Born between 1944 and 1964, Baby Boomers are currently between the ages of 55 and 75 and downsizing later in life.  Why? They are living and working longer than previous generations. When they purchased their home 30 years ago, they made sure it was "perfect" for all their needs. They feel the same way in 2019, which is why they don't have a reason to move.

    Based on a study by Realtor.com, “85% of Baby Boomers indicated they were not planning to sell their home” in 2018. This trend will continue, inventory will become even lower in 2019 as Baby Boomers postpone downsizing; making it more difficult for younger generations such as Millennial first-time home buyers and Gen Xers looking to upsize to a bigger home.

    When Boomers finally decide to move in 2019, they will differ from the older "isolated retirement home" trend of their previous Generation. Instead, they will look for an engaging local community populated...

    The 2019 real estate market looks substantially different than it did a decade ago. The housing market has evolved each year, as the new generation became first-time home buyers and the senior generation began to downsize. Each generation has different buying behaviors, preferences and goals that are influenced by external factors such as the economy, social norms, technology and government regulation. For example, Baby Boomers are waiting longer in life to downsize than their older Silent Generation counterparts in their senior years. So how does this affect the younger generations?

    Baby Boomers

    Born between 1944 and 1964, Baby Boomers are currently between the ages of 55 and 75 and downsizing later in life.  Why? They are living and working longer than previous generations. When they purchased their home 30 years ago, they made sure it was "perfect" for all their needs. They feel the same way in 2019, which is why they don't have a reason to move.

    Based on a study by Realtor.com, “85% of Baby Boomers indicated they were not planning to sell their home” in 2018. This trend will continue, inventory will become even lower in 2019 as Baby Boomers postpone downsizing; making it more difficult for younger generations such as Millennial first-time home buyers and Gen Xers looking to upsize to a bigger home.

    When Boomers finally decide to move in 2019, they will differ from the older "isolated retirement home" trend of their previous Generation. Instead, they will look for an engaging local community populated...

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