Why Lifestyle Changes Are Buyers’ Biggest Motivation
Here’s why buyers keep buying despite shifting market conditions.
The market shift has started to happen. If things are shifting away from a strong seller’s market, why are people moving, and why are prices still climbing?
Most people are moving due to lifestyle changes. Marriage, divorce, births, and deaths are all reasons people move. A lot of kids and parents are living closer together.
"There just aren’t enough homes for sale to meet demand."
This means we need homeowners to sell, not just want. The children of baby boomers are getting married and having children of their own. Purchasing homes has become a greater priority for them, but right now there aren’t enough existing homes to accommodate this strong demand.
If we continue to see strong demand, prices will continue to go up. Home prices in the DMV market have gone up approximately 12% in the last year. At some point, pricing pressure will level off and limit the affordability of homes.
Do you need to buy or sell because of a lifestyle change? If the answer is yes, we can help. Give us a call or send us an email today, and let’s see what we can do. We look forward to hearing from you.