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 Costa Mesa 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 Costa Mesa 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 Costa Mesa 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 Costa Mesa listings do include properties that today’s low home loans make decidedly affordable. Give us a call!
We are built on a philosophy of Heritage & Hustle L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, L3 has grown to a full staff of 20 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact L3 today at 714-444-4663 or email us at firstname.lastname@example.org