There are 79 million baby boomers, and this year, the oldest boomers turn 65. Their impact on the economy is enormous, so looking at the home buying trends of this group highlights interesting differences between older and younger boomers. A new survey from Coldwell Banker reveals that younger baby boomers are interested in purchasing a second home (34 percent) as compared to their older boomer counterparts (22 percent). Here are some highlights of what we learned:
Not surprisingly, 87 percent of 1,300 agents and Brokers polled agree that the economy is delaying baby boomers’ plans to sell their homes.
However, the desire to own one or more homes in this generation remains strong. 87 percent of the respondents have boomer-aged clients who already own or are looking to own and investment property.
80 percent of respondents said that older boomers (age 56-64) are more likely to want to downsize than younger boomers, but it’s not all about money: 49 percent said the primary reason boomers in general are downsizing is for a simpler lifestyle.
More than one-third (34 percent) of agents say younger baby boomers (ages 47-55) are interested in purchasing a second home, and 31 percent of respondents say they are working with younger boomers selling and looking for larger homes The Cherry Group, the Coconut Grove Realtors, hasn't seen any noticeable influx in single family home sales here with this demographic. All of our sales have been with International, all-cash buyers in their forties and fifties.
Not surprisingly, 87 percent of 1,300 agents and Brokers polled agree that the economy is delaying baby boomers’ plans to sell their homes.
However, the desire to own one or more homes in this generation remains strong. 87 percent of the respondents have boomer-aged clients who already own or are looking to own and investment property.
80 percent of respondents said that older boomers (age 56-64) are more likely to want to downsize than younger boomers, but it’s not all about money: 49 percent said the primary reason boomers in general are downsizing is for a simpler lifestyle.
More than one-third (34 percent) of agents say younger baby boomers (ages 47-55) are interested in purchasing a second home, and 31 percent of respondents say they are working with younger boomers selling and looking for larger homes The Cherry Group, the Coconut Grove Realtors, hasn't seen any noticeable influx in single family home sales here with this demographic. All of our sales have been with International, all-cash buyers in their forties and fifties.
No comments:
Post a Comment