• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Dava Behrens, Real Estate Broker

Dava Real Estate

  • About
    • About Dava
    • Historic Homes
    • Luxury Homes
    • Testimonials
  • Blog
    • Buyers
    • General Real Estate Information
    • Historic Success Stories
    • Listings
    • Statistics
    • Success Stories
  • Sellers
  • Buyers
  • Resources
  • Social

Some Buyers Prefer Smaller Homes

April 19, 2021 by Dava

Some Buyers Prefer Smaller Homes | MyKCM

Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu, Senior Economist at realtor.com, shares:

“The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.”

For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent study on today’s homebuyer preferences, the National Association of Home Builders (NAHB) states:

“When asked more specifically how the pandemic may have impacted their preference for home size…21% or about 1 out of every 5 buyers, do want a larger home now as a direct result of the health crisis, while another segment – 12% – would prefer a smaller one instead.”

While you might expect more time at home to lead to a need for more space, it’s interesting that a significant portion of homeowners actually want less. For those who own larger homes right now and have a desire to move, today’s housing market is full of opportunities. Danielle Hale, Chief Economist at realtor.com, explains:

“In a real estate market that is tipped in the favor of sellers, boomers and older homeowners are really the ones holding the cards…Those who are selling homes can use the profits to help them buy new ones.”

As a homeowner today, you likely have equity that can be put toward the purchase of your next home. With the equity growth homes have seen over the past year, you may have more than you think, which can help significantly as you make a move into your next home. According to a report from the National Association of Realtors (NAR):

“Home sellers cited that they sold their homes for a median of $66,000 more than they purchased it. Sellers 22 to 30 years gained the least at $33,400 in equity compared to sellers 66 to 74 years gained $100,000 in equity as they likely had lived in their homes for a longer period of time.”

Despite the benefits of growing home equity, some homeowners are still hesitant to move and could be considering remodeling or making changes to their current space instead. However, if you’ve thought about aging in place rather than downsizing, you may want to reconsider. The U.S. Census Bureau points out:

“Of the nation’s 115 million housing units, only 10% are ready to accommodate older populations.”

If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.

Bottom Line

Today’s housing market favors homeowners who are ready to sell their houses and make a move. If you’re thinking about downsizing this year, let’s connect to discuss your options in our local market.

Filed Under: Buyers Tagged With: Buyers, downsizing, home for sale house for sale, homeownership, Real Estate, smaller homes

More Posts

May 2025 Monthly Real Estate Statistics

Pile of warning signs; urgent alert.

Don’t Be a Victim of Real Estate Wire Fraud

HOME FOR SALE– 1620 NW MENLO DRIVE CORVALLIS OREGON

Eyeglasses on a piggy bank.

Don’t Let Student Loans Hold You Back from Homeownership

Primary Sidebar

SEARCH FOR HOMES

Blog Posts by Category

  • ABR
  • Buyers
  • General Real Estate Information
  • Guides
  • Historic Success Stories
  • Listings
  • Sellers
  • Seniors
  • SRES
  • Statistics
  • Success Stories
  • Uncategorized

Contact Me


  • Corvallis, Oregon
  • 541-740-3844
  • dava@davarealestate.com

Ask Dava a question


Subscribe to My Monthly E-Newsletter!

* indicates required
/* real people should not fill this in and expect good things - do not remove this or risk form bot signups */

Intuit Mailchimp

Follow Dava on Instagram

Footer

CONNECT WITH ME ON

  • 
  • 
  • 
  • 

Premiere Property Group, LLC An Equal Opportunity Company. Equal Housing Opportunity.

Dava Behrens is a Licensed Real Estate Broker in the State of Oregon. For important information regarding representation in the state of Oregon refer to Oregon Real Estate Agency Disclosure Pamphlet.


Disclaimer: Listings based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided ‘AS IS’ and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market.


Privacy Policy: It is my policy to never release information regarding your inquiries to third parties. In the event you provide an email address, name, phone number and/or street address, that information will be used only for the purposes intended and will not be shared with others.

Buyer & Seller Advisories