ForeclosureListings.com: Older Homeowners Impacting U.S. Housing and Foreclosure Markets

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Nov 07, 2024, 15:11 ET

MIAMI, Nov. 7, 2024 /PRNewswire/ -- The U.S. housing market is going through some big changes as the typical age of home sellers reaches a new high of 63, according to a recent report from the National Association of Realtors (NAR). Many older homeowners, who are in strong financial positions with substantial home equity, are choosing to stay in their homes longer. This trend is tightening the housing supply, keeping prices high, and making it trickier for younger buyers to find affordable options. This shift also has a surprising impact on the foreclosure market, with fewer properties becoming available.

Older homeowners impacting U.S. housing and foreclosure markets, reports ForeclosureListings.com

Older Homeowners Holding Onto Homes, Shrinking Housing Supply

Older homeowners who have built up significant equity are often opting to stay put, which limits the number of homes up for grabs. This lower supply keeps prices up, creating some real obstacles for younger or first-time buyers trying to find an affordable property. The competition for reasonably priced homes is getting tougher by the day.

How This Impacts Foreclosures

ForeclosureListings.com has noticed that foreclosure filings are staying relatively low, in part because many of these older, financially secure homeowners are less likely to fall behind on their mortgages. This has led to a smaller supply of foreclosure properties in areas with higher home values. But there are still opportunities for buyers looking for more affordable options, especially in regions with some economic challenges.

"Older homeowners staying in their homes has been great for market stability," said Elias DaSilva, founder of ForeclosureListings.com. "But with fewer homes on the market, younger buyers are finding it tougher. That's why foreclosure listings are still such an important option for people who want a more budget-friendly way to buy a home."

About ForeclosureListings.com

Founded in 1998, ForeclosureListings.com has been a go-to resource for real-time foreclosure listings across the U.S., offering insights and updates to help buyers and investors make well-informed decisions. With over 25 years of experience, Elias DaSilva and his team are committed to helping buyers and investors make the most of changing market trends.

Media Contact:
Elias DaSilva
Founder, ForeclosureListings.com
55 SW 9th Street, Suite W3709, Miami, FL 33130

Phone: 646-244-5577
Email: [email protected]
Website: ForeclosureListings.com

SOURCE Foreclosurelistings.com