Lets Go Find Your New Dream Home

Dated: November 3 2019

Views: 23

Dated: 05/02/2019 - Minna French

Views: 69

Your Fabulous New Dream Home is Now Available

Your Fabulous New Dream Home is Now Available |MyKCM

Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in.

That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome.

Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and lifestyle. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.

The average number of years a family stays in their home has increased by fifty percent since 2008, causing fewer houses to come to the market. During the same time, new home builders were concentrating most of their efforts on large, luxury, expensive houses.

However, that is starting to change.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 692,000 units in March. The great news is that more of those homes were sold at the lower end of the price range.

In a press release last week, the National Association of Home Builders (NAHB) explained that:

“The median sales price was $302,700, with strong gains in homes sold at lower price points. The median price of a new home sale a year earlier was $335,400.”

NAHB Chief Economist Robert Dietz offered further detail:

“We saw a large gain at lower price points where demand is strong. In March of 2019, 50% of new home sales were priced below $300,000, compared to 39% in March of 2018.”

Bottom Line

If you are a “boomer” thinking of selling your old house in order to buy a new home that better fits your current lifestyle, now may be the perfect time!

Blog author image

Minna French

"Always at your reach and at your service!" Buying or selling your home is one of the biggest financial transactions in your lifetime. What is the best price you can get? How long does it take to get....

Latest Blog Posts

Buyer Knowledge Is Power When It Comes to Appraisals and Inspections

Knowledge Is Power When It Comes to Appraisals and InspectionsBuyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s

Read More

Supply and Demand Tipping Pricing???

How Supply and Demand Can Tip the Pricing Scales in Today's Market In today's housing market, an imbalance between supply and demand is driving up home prices. Let's connect to discuss how you

Read More

What Does the Future Hold for Home Prices?

What Does the Future Hold for Home Prices?If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in

Read More

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Don’t Wait for a Lower Mortgage Rate – It Could Cost YouToday’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in

Read More