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Real Estate Agents at Sage Realty LLC Discuss Demographics of Recent Homebuyers

Real Estate Demographics

Real Estate Demographics

Baby Boomers are considered the generation of people that were born approximately between 1946 and 1964. Baby Boomers are a large percentage of the population—smart, savvy and living longer than ever. Baby Boomers have also become the biggest competition for Millennials in the housing market. With more than 70 million boomers retiring at a rate of about 10,000 people per day; mom, dad, grandma or grandpa may be the toughest competition for starter-sized homes, apartments and condos; especially in urban areas.

Sage Realty LLC will provide you with an experienced real estate agent who can provide advice on how to negotiate the best price when purchasing homes for sale in the Main Line area.

A Downsizing Generation

A smaller home often equates with more free time. Some of the reasons baby boomers are swapping large family houses for reduced living spaces in the busier urban hubs are less time spent cleaning, less yard space to maintain and easier access to activities and services located in metropolitan areas. The generation now desires to live in or near communities that provide plentiful amenities. Boomers welcome the lifestyle change that gives them more free time to pursue their interests.

Tough Competition

Baby Boomers have helped breathe new life into the housing market. Millennials often do not have the means necessary to compete with them in the housing market. Baby boomers are willing to pay premiums, high rents or whatever it takes to move into the new neighborhood multifamily dwelling. In turn, Millennials are still trying to recover from entering the job market during a recession.

What does it mean for the Housing Market?

As more boomers move into the condo and rental market, Millennials will have to get more creative with their own housing situations. According to Bloomberg Business and The Atlantic, buying a home is better and more affordable than renting in the current market climate (in most situations). The biggest roadblock is access to savings for emergency funds and down payments.

Boomers have also affected the drive to create more apartments and condos. Government data shows a marked increase in permits to build multifamily homes.

What constitutes the American dream has changed for many retirees. Simplicity seems to be the mantra of the baby boomers. The good news is, as the economy improves, Millennials will have more of a chance to achieve their housing goals as well. For more information on purchasing or selling a home in the Main Line and Wayne areas, contact a real estate agent from Sage Realty at 610-687-4000.

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Featured Testimonial

I moved to PA from Washington State and learned that realty is local. There were things that I thought I knew about buying a house previously but boy was I wrong. Linda was very patient with me but also did not hold back when she saw potential problems, and always made sure I had all the information I needed before making a decision and didn’t belittle concerns to just get a sale. Above all else, and this was the most important thing to me, Linda has a high ethical standard, is very transparent in her approach and is someone I trusted making one of the biggest decisions of my life. – A. Lindsay (Courtesy of Google)

 

Hear From Our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Hear from our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Sage Buyer Tips

Use Sage Buyer Tips to research the Main Line and stay up to date on real estate news. This online destination is chock full of resources for buyers and sellers: you can see our Main Line communities or explore Sage favorite places. Browse properties here and search other Main Line real estate. With Sage’s advice and experience, first-time buyers and those looking to upgrade can find homes best suited to their needs.