AARP URGES UNIVERSAL DESIGN AND INCLUSIVE HOMES
While many may assume that baby boomers sell their homes to downsize, reaping the cash equity of selling a large place to move to a smaller, less expensive home is not the top reason they are nearly half of home sellers.
“The No. 1
reason to move is to be closer to friends and family,” Dr. Jessica Lautz, NAR
deputy chief economist and vice president of research, said.
“As they
enter retirement, they are relocating to be closer to their children and
grandchildren.
The housing
equity they have allows them to put down a larger downpayment—or pay cash—and
compete in today’s housing market.
It gives
them the flexibility to move to be closer to friends and family.”
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