5 Surprising Real Estate Trends from the 2024 Profile of Home Buyers and Sellers

As Connecticut's real estate market evolves, the 2024 Profile of Home Buyers and Sellers offers eye-opening insights into today’s housing landscape. Here’s a look at five unexpected trends shaping the market.  

1. First-Time Buyers Are Older  
The median age of first-time homebuyers is now 38—delayed by rising costs and economic pressures. For tips on navigating the first-time buying process, check out 5 Steps to Buying Your First Home.  

2. Multi-Generational Living is on the Rise  
Seventeen percent of buyers are opting for multi-generational homes. These setups save costs and keep families closer. Thinking about such a property? Explore Milford Homes for Large Families 

3. More Buyers Are Paying Cash  
A record 26% of buyers are skipping the mortgage process. Considering this approach?

4. Buyers Are Staying Close to Home  
With a median move of only 20 miles, buyers prioritize familiar neighborhoods. Check out Fairfield Neighborhood properties for sale for top relocation options.  

5. Sellers Are Older  
Sellers’ median age has reached 63, reflecting an equity-rich market. Planning your next sale? Discover Free Guide on How to Sell your Home for Top Dollar

Insights for Connecticut Real Estate  
These trends highlight a competitive but opportunity-filled market. Buyers face new challenges, while sellers are uniquely positioned to benefit from market conditions.  

Contact me for more insider information!