The primary reason a baby boomer decides to sell their home is because they want to move closer to friends or family, or their home is too large or because they are retiring.
Many studies suggest one of the main reasons for the inventory shortage in today’s market of homes for sale is that older generations have chosen to “age in place” over moving.
The average number of years a family stays in their home has increased by fifty percent since 2008, causing fewer houses to come to the market. During the same time, new home builders were concentrating most of their efforts on large, luxury, expensive houses. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.