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Baby Boomers, Gen Xers Staying Put

By Elyse Umlauf-Garneau

Many expect that when people reach a certain age, they’ll want to sell their homes and
downsize. But a recent Bank of America survey found that 70% of homeowners between the ages of 45 and 76 have decided to stay put and age right where they are.

After all, 78% say they like their current home and see no reason to move, and 22% have put so much work into their existing property that they want to stay.

Some reasons for remaining in their current property for aging in place among those who’ve not yet retired include avoiding high home prices and interest rates (32%) and benefiting from their current low mortgage payment or a paid-off home (20%). After all, 78% say they like their current home and see no reason to move, and 22% have put so
much work into their existing property that they want to stay.

In addition, about 95% of current mortgage holders have loans with rates of 5% or less, making them hesitant about giving up their low mortgage rates.

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Comparing the Atlanta Metro Real Estate Market in December 2022 to Pre-Pandemic Markets of 2016 & 2019

By: Kelly Vandever
 
How does real estate in 2022 compare with real estate in 2016 & 2019? Check out the info above!
 
Wonder how this impacts buying your first house? Wonder how it impacts selling your current house and buying a new one?
 
Call me, Kelly, at 770-597-1108. Let's talk!
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