Overall, the U.S. residential market has behaved itself predictably for a couple of years. As a result, there’s been little chance for commentators to point out any new phenomena that might affect our own St. Cloud listings. In general, price growth has remained moderate while the volume of homes changing hands has been relatively quiet.
That might be headed for a change if CNBC’s Diana Oleck is right. In a brief report last week, she made the case for a new trend that could have an effect on the home-selling picture—including the number of our own St. Cloud listings.
The trend is an uptick in one choice seniors are making—in this case, the tendency of retirees to stay put in their current home. “Why seniors ‘aging in place’ is affecting home sales” was the report’s headline. It pointed to an emerging housing trend which has older Americans eschewing the urge to downsize or move to retirement communities, instead choosing to stick it out in their current homes.
That’s a trend that “would remove 1,600,000 homes from the housing market” according to government-sponsored Freddie Mac. That would equal the total number of housing units constructed yearly. If that estimate proves to be valid, it could indeed affect the volume of new St. Cloud listings we might expect to see in coming years.
The reasons retirement-aged homeowners might choose not to move are the traditional ones: they love their home, which is probably their chief investment—and they prefer to remain in the community they know and love. There’s another reason in 2019, too: it’s increasingly difficult to find affordable alternatives.
Closer to home, this month’s St. Cloud listings do include properties that today’s low home loans make decidedly affordable. Give me a call!
Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota.We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:
Five Office Locations To Serve YOU!
St. Cloud 320-259-4554
Maple Grove 763-565-2000
Premier Real Estate specializes MANY areas around Central MN including St. Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, St. Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, St. Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center and more!