Not that it makes it better, but I wonder what the stats are for first-time homebuyers. People are buying second and third homes now and driving up the average age.
Some of the buyers acquiring multiple properties for investment but some are just switching homes, getting bigger houses for growing families, upgrading to better locations or downsizing empty nesters. Older folks often sell their homes to buy something without stairs or with less maintenance. I suspect that fewer people are able to ever become 1st time buyers so all of the activity among homeowners has a larger impact on the median. :(
Not that it makes it better, but I wonder what the stats are for first-time homebuyers. People are buying second and third homes now and driving up the average age.
Which I hate.
I found this:
Some of the buyers acquiring multiple properties for investment but some are just switching homes, getting bigger houses for growing families, upgrading to better locations or downsizing empty nesters. Older folks often sell their homes to buy something without stairs or with less maintenance. I suspect that fewer people are able to ever become 1st time buyers so all of the activity among homeowners has a larger impact on the median. :(
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Are they buying second homes or just moving to a different one?