{"id":2413,"date":"2019-08-21T05:00:14","date_gmt":"2019-08-21T10:00:14","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/seniors-are-on-the-move-in-the-real-estate-market\/"},"modified":"2020-10-28T11:09:53","modified_gmt":"2020-10-28T16:09:53","slug":"seniors-are-on-the-move-in-the-real-estate-market","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/seniors-are-on-the-move-in-the-real-estate-market\/","title":{"rendered":"Seniors Are on the Move in the Real Estate Market"},"content":{"rendered":"

\"Seniors<\/p>\n

Did you know August 21st<\/sup> is National Senior Citizens Day<\/em>? According to the United States Census, <\/em>we honor senior citizens today because,<\/p>\n

\n

\u00a0“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\u2026to reserve a special day in honor of the senior citizens who mean so much to our land.<\/em>\u201d<\/p>\n<\/blockquote>\n

<\/span><\/p>\n

To give proper recognition, we\u2019re going to look at some senior-related data in the housing industry.<\/p>\n

According to the Population Reference Bureau<\/em><\/a>,<\/em><\/p>\n

\n

\u201cThe 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\u2019s share of the total population will rise from 16 percent to 23 percent<\/em>.\u201d<\/p>\n<\/blockquote>\n

Seniors Believe in Homeownership<\/strong><\/h4>\n

In a recent report<\/a>, Freddie Mac<\/em> compared the homeownership rates of two groups of seniors: the Good Times Cohor<\/em>t (born from 1931-1941) and the Previous Generations<\/em> (born in the 1930s). The data shows an increase in the homeownership rate for the Good Times Cohort<\/em> because seniors are now aging in place, living longer, and maintaining a high quality of life into their later years.\"Seniors<\/a>This, 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<\/em><\/a>, the National Association of Realtors<\/em>\u00ae (NAR) <\/em>showed the percentage of seniors buying and selling:\"Seniors<\/a><\/p>\n

Here are some highlights from NAR\u2019<\/em>s report: <\/strong><\/h4>\n
    \n
  • Buyers ages 54 to 63 had higher median household incomes and were more likely to be married couples.<\/li>\n
  • 12% of buyers ages 54 to 63 are first-time homebuyers, 5% (64 to 72), and 4% (73 to 93).<\/li>\n
  • 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.<\/li>\n
  • Sellers 54 years and older often downsized and purchased a smaller, less expensive home than the one they sold.<\/li>\n
  • Sellers ages 64 to 72 lived in their homes for 21 years or more.<\/li>\n<\/ul>\n

    Bottom Line <\/strong><\/h3>\n

    According to NAR<\/em>\u2019s report, 58% of buyers ages 64 to 72 said they need help from an agent to find the right home. The transition from a current home to a new one is significant to undertake, especially for anyone who has lived in the same house for many years. If you\u2019re a senior thinking about the process, let\u2019s get together to help you make the move as smoothly as possible.<\/p>\n

    Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

    Did you know August 21st is National Senior Citizens Day? According to the United States Census, we honor senior citizens today because, \u00a0“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\u2026to reserve a special day in honor of the […]<\/p>\n","protected":false},"author":1,"featured_media":2414,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2413","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\nSeniors Are on the Move in the Real Estate Market—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/seniors-are-on-the-move-in-the-real-estate-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seniors Are on the Move in the Real Estate Market—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Did you know August 21st is National Senior Citizens Day? 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