The typical move-up buyers are in their 30’s to 40’s who need more space. In our area, the common profile of a move-up home is a 2-story, 4-bedroom, 2 ½ bath with a basement and a 2-car garage priced between $400,000 – $600,000. The challenge for the move-up buyer is the lack of inventory in this popular niche. The current owners of these homes are staying longer. The pandemic prevented those owners of these popular homes from moving years ago and they refinanced at historically low rates. They are now reconsidering the need to move and stay put until a compelling reason presents itself to move. Family is becoming a new priority with retirees, and empty nesters may wait to see where their kids settle down before making a moving decision.
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