Held July 30-August at Inman Connect Las Vegas. On January 1, 2024, the noise and misinformation will be cut away, all your big questions will be answered, and new business opportunities will be revealed. join us.
Navigating the complexities of downsizing can be a daunting task for anyone, but for those who have stayed in the same house for decades or who may be facing age-related changes in norms, it becomes Particularly challenging.
As the largest group of home sellers in recent years, baby boomers (ages 59 to 77) are at the forefront of the downsizing trend and will account for 45% of home sellers by 2023, according to NAR’s 2023 Home Buyer and Seller Profile. Meanwhile, the Silent Generation (those aged 78 and above) account for 6%. Together, these two groups account for more than half of all U.S. home sales, a trend expected to continue in the coming years.
This shift means real estate agents are increasingly encountering clients who need more than just help with their transactions. Those selling the home they have lived in for most of their adult lives often face the unique emotional and logistical challenges associated with relocating. These barriers are not only related to age, but also to the profound life changes that come with giving up a long-term residence.
Age-related physical limitations and cognitive decline (sometimes associated with aging or disease) can add complexity to the downsizing process. Combined with a large fortune accumulated over decades, these factors can turn a seemingly simple move or home sale into a major emotional and Logistics business.
