Demographics

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How Homeowners Win When They Downsize

May 4, 2023

Demographics, For Buyers, For Sellers

Posted by Robin Taylor Roth

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:“Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger …

5 Reasons Millennials Are Buying Homes

April 18, 2023

Demographics, First Time Home Buyers, For Buyers, Millennials

Posted by Robin Taylor Roth

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below):This graph …

How Homeownership Is Life Changing for Many Women

March 28, 2023

Demographics, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.Why Is Homeownership So Important to Women?The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been …

Could a Multigenerational Home Be the Right Fit for You?

March 7, 2023

Baby Boomers, Demographics, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers

Posted by Robin Taylor Roth

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, …

A Smaller Home Could Be Your Best Option

February 22, 2023

Baby Boomers, Demographics, For Buyers, For Sellers

Posted by Robin Taylor Roth

Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says:

Planning to Retire? It Could Be Time To Make a Move.

December 15, 2022

Baby Boomers, Demographics, For Sellers, Move-Up Buyers, Senior Market

Posted by Robin Taylor Roth

If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision. Consider How Long You’ve Been …

More People Are Finding the Benefits of Multigenerational Households Today

November 17, 2022

Baby Boomers, Demographics, For Buyers, Gen Z, Generation X, Millennials

Posted by Robin Taylor Roth

If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option for your own home search, know it could help you on …

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

November 3, 2022

Demographics, First Time Home Buyers, For Buyers, Gen Z, Millennials, Move-Up Buyers

Posted by Robin Taylor Roth

It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they’re breaking into the market: “. . . younger generations of Americans are not …

Millennials Are Still a Driving Force of Today’s Buyer Demand

October 27, 2022

Demographics, For Sellers, Housing Market Updates, Millennials

Posted by Robin Taylor Roth

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for. While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer …

Planning To Retire? Your Equity Can Help You Reach Your Goal.

August 18, 2022

Baby Boomers, Demographics, For Sellers, Senior Market

Posted by Robin Taylor Roth

Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired. If this sounds like you, one thing …

What Is Multigenerational Housing? [INFOGRAPHIC]

April 15, 2022

Baby Boomers, Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Generation X, Infographics, Millennials, Move-Up Buyers, Senior Market

Posted by Robin Taylor Roth

Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. Let’s connect so you can find a house …

Millennials: Do You Need a Home with More Space?

February 28, 2022

Demographics, Down Payments, For Buyers, For Sellers, Millennials, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re …

The Path To Homeownership Can Be Steeper for Some Americans

February 9, 2022

Demographics, First Time Home Buyers, For Buyers, Housing Market Updates

Posted by Robin Taylor Roth

As we celebrate Black History Month, we honor and recognize the past and present experiences of Black Americans. A significant part of this experience is investing in a home of their own. While equitable access to housing has come a long way, the path to homeownership is still steeper for households of color. It’s an important experience to talk about, along with how working with the right real estate …

Millions of Americans Have Discovered the Benefits of Multigenerational Households

February 3, 2022

Demographics, For Buyers

Posted by Robin Taylor Roth

If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in …

The Next Generation of Homebuyers Is Here

January 25, 2022

Demographics, First Time Home Buyers, For Buyers, Gen Z

Posted by Robin Taylor Roth

Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting. As you set off on your journey and plan your next move, here are a few …

Advice for First-Generation Homebuyers

December 14, 2021

Demographics, First Time Home Buyers, For Buyers, Gen Z, Millennials

Posted by Robin Taylor Roth

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America, says: “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and …

Retirement May Be Changing What You Need in a Home

November 17, 2021

Baby Boomers, Demographics, For Buyers, For Sellers, Senior Market

Posted by Robin Taylor Roth

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home …

Is a 20% Down Payment Really Necessary To Purchase a Home?

September 22, 2021

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials

Posted by Robin Taylor Roth

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment …

More Young People Are Buying Homes

August 19, 2021

Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Millennials, Rent vs. Buy

Posted by Robin Taylor Roth

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief. Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing slightly behind older generations: “Historically, millennials have delayed the critical lifestyle …

The Truths Young Homebuyers Need To Hear

July 7, 2021

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Interest Rates, Millennials, Pricing, Rent vs. Buy

Posted by Robin Taylor Roth

For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value by $100k or more” “47% don’t know what a good interest rate is” Because …

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC]

April 9, 2021

Baby Boomers, Demographics, For Buyers, For Sellers, Generation X, Housing Market Updates, Infographics, Millennials, Move-Up Buyers, Senior Market

Posted by Robin Taylor Roth

Some Highlights If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, …

Is Homeownership Still Considered Part of the American Dream?

March 31, 2021

Buying Myths, Demographics, First Time Home Buyers, For Buyers, Millennials

Posted by Robin Taylor Roth

Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: “The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all …

Millennials: Is It Time to Buy a Bigger Home?

February 16, 2021

Demographics, For Buyers, For Sellers, Millennials, Move-Up Buyers

Posted by Robin Taylor Roth

In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending much more time at home these days, you may have a growing need for …

How Will the Presidential Election Impact Real Estate?

September 2, 2020

Demographics, For Buyers, For Sellers, Housing Market Updates, Interest Rates

Posted by Robin Taylor Roth

The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year. As we come …

Homeownership Rate Continues to Rise in 2020

July 29, 2020

Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates

Posted by Robin Taylor Roth

So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and …

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Demographics | Central New Jersey Real Estate