With Baby Boomers outbidding Millennials and Generation X in many home sales, economists at the National Association of Realtors say real estate agents should start thinking differently about what their clients need from them.
So many people moved last year, they caused the overall median length of tenure in an American home to stay nearly constant, bucking a longstanding trend that saw more and more homeowners preferring to stay put.
Couple skyrocketing construction costs with the end of COVID-19 mortgage forbearance, the end of the eviction ban, plus the oldest Baby Boomers turning 75 this year, and inventory increases may occur much sooner than anyone anticipates.
