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Downsize

The Hidden Advantage Repeat Buyers Have Right Now

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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
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<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

What if you didn’t have a mortgage payment on your next house? It may sound a little unrealistic. But for a number of homeowners, it’s actually doable.

Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors (NAR). That’s far more than the pre-pandemic norm (see graph below):

Is an All-Cash Move Realistic for You?

Not every homeowner will buy their next house outright in cash. And that’s okay.

But the bigger takeaway is this: the equity you’ve built may give you more options than you think. 

Whether that means downsizing and eliminating a mortgage entirely, or just relocating with stronger negotiating power, your current house may be what makes it possible.

Bottom Line

Before assuming you’ll need another traditional mortgage, it’s worth asking one simple question: How much equity do you really have? Because the answer might change what you thought your next move could look like.

Curious what your home equity could do for you? Ask a local real estate agent to run the numbers and see what kind of buying power you’re really sitting on.

Why So Many Homeowners Are Downsizing Right Now

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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
<input type="number" id="property_price" name="property_price" value="" style="width: 100%;">
<input type="number" id="property_beds" name="property_beds" value="" style="width: 100%;">
<input type="number" id="property_baths" name="property_baths" step="0.5" value="" style="width: 100%;">
<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

For a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real.

According to Realtor.com and the Census, nearly 12,000 people will turn 65 every day for the next two years. And the latest data shows as many as 15% of those older Americans are planning to retire in 2026. And another 23% will do the same in 2027.

If you’re considering retiring soon too, here’s what you should be thinking about.

Why Downsize?

Now’s the perfect time to reflect on what you want your life to look like in retirement. Because even though your finances will be going through a big change, you don’t necessarily want to feel like you’re living with less.

But odds are, what you do want is for life to feel easier.

Easier to enjoy.

Easier to manage.

Easier to maintain day-to-day.

The Top Reasons People Over 60 Move

You can see these benefits show up in the data when you look at why people over 60 are moving. The National Association of Realtors (NAR) finds the top 4 reasons aren’t about timing the market or chasing top dollar. They’re about lifestyle:

  • Being closer to children, grandchildren, or long-time friends so it’s easier to spend more time with the people who matter most
  • Wanting a smaller, more functional home with fewer stairs and easier upkeep
  • Retiring and no longer needing to live near the office, so it’s easier to move wherever you want
  • Opting for something smaller to reduce monthly expenses tied to utilities, insurance, and maintenance

 

No matter the reason, the theme is the same: downsizing isn’t about giving something up. It’s about gaining control and choosing simplicity. And it brings peace of mind to know your home fits the years ahead, not the years behind.

And the best part? It’s more financially feasible now than many homeowners would expect.

The #1 Thing Helping So Many Homeowners Downsize

Here’s the part that makes it possible. Thanks to how much home values have grown over the years, many longtime homeowners are realizing they’re in a stronger position than they thought to make that move.

According to Cotality, the average homeowner today has about $299,000 in home equity. And for older Americans, that number is often even higher – simply because they’ve lived in their homes longer.

When you stay in one place for years (or even decades), two things happen at the same time:

  • Your home value has time to grow.
  • Your mortgage balance shrinks or disappears altogether.

That combination creates more options than you’d expect, even in today’s market.

So, whether you just retired, or you’re about to, it’s not too soon to start thinking about what comes next. Sure, it can be hard to leave the house you made so many years of memories in, but maybe it’s time to close one chapter to open a new one that’s just as exciting. 

Bottom Line

Downsizing is about setting yourself up for what comes next – on your terms.

If retirement is on the horizon and you’ve started wondering what your current house (and your equity) could make possible, the first step isn’t selling. It’s understanding your options.

It’s time to talk to an agent. A simple, no-pressure conversation can help you see what downsizing might look like – and whether it makes sense for you.

Why So Many People Are Thankful They Bought a Home This Year

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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
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<input type="number" id="property_baths" name="property_baths" step="0.5" value="" style="width: 100%;">
<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

Homebuyers are weighing their options right now, and they certainly have a lot on their minds. With everything going on in the job market, the economy, and more – there’s a lot to think about these days. And maybe that’s making you wonder if it really makes sense to buy a home right now.

But here’s what many recent buyers would tell you: even with all that, making a move is worth it.

And this is why they’re thankful they went ahead and took the plunge already. Life doesn’t wait for better market conditions. So, your decision shouldn’t be about trying to time the market perfectly. It should be about moving when the time is right for you and what you need – and it’s different for everyone.

The Real Reasons People Bought a Home

According to the latest report from the National Association of Realtors (NAR), what’s really driving today’s moves is the desire for something better or something different. It’s a personal motivator or a change in what they need out of the home that pushed buyers to act this year (see chart below):

For some, that meant trading an apartment for their very first house – a home they can finally make their own, where they can paint the walls, plant the garden, and build a future.

For others, it meant getting closer to the people who matter most. Living near family or friends isn’t just convenient, it changes your everyday life. Sunday dinners, quick visits, extra help when you need it – that kind of connection is priceless.

And for many buyers, it’s the peace of finding a home that finally fits. It’s finally having space to grow: a bigger kitchen for family dinners, or bedrooms where kids can decorate their own walls and carve out their own corners of the world.

Or, it’s about simplifying. Downsizing to something smaller, easier to maintain, and closer to what matters most can make everyday life feel lighter and less stressful.

What You Miss Out on If You Try To Time the Market

No matter the reason, these buyers all share something in common: they stopped waiting for perfect timing and focused on creating the life they wanted now. And if you asked them, odds are they’d say that decision is paying off every day.

That’s what makes a move meaningful. Not the market conditions, but the freedom and happiness that come from living in a home that truly fits. So, while headlines may keep everyone guessing, the people who’ve already made their move are sleeping better, living fuller, and enjoying homes that finally feel right.

Because once your home finally matches your life, everything else starts to fall into place. And that’s exactly how you deserve to feel. 

Bottom Line

The people who bought a home this year didn’t wait for perfect market conditions to line up. They acted on what they needed in their life. And they’re thankful they did.

If you’re feeling the pull toward something better, talk to an agent about your goals. Your next home could bring you more space, more connection, and more happiness than you think.

Why You Don’t Need To Be Afraid of Today’s Mortgage Rates

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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
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<input type="number" id="property_baths" name="property_baths" step="0.5" value="" style="width: 100%;">
<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.

The Magic Number

According to the National Association of Realtors (NAR):

“. . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it’s likely that about 10%—or 550,000—of those additional households would buy a home over the next 12 or 18 months.”

When the market hits that mortgage rate sweet spot, as expert forecasters are starting to say is more likely in 2026, the psychological shift to lower rates will kick in for more of today’s hopeful buyers. That will unleash some pent-up demand that’s been waiting on the sidelines, and the increase in activity will cause prices to rise.

And while a 5.99% rate might sound like a big win, if you’re waiting for that number to make your move, it might not actually save you as much as you think. Here’s how the math looks when you run the numbers (see chart below):

On a $400,000 mortgage, the difference between today’s rate (around 6.2%) and 5.99% is roughly $50 a month. That’s less than many people spend on weekly coffee runs or occasional DoorDash orders. And as prices tick up with more buyers in the market, that could quickly negate any of your potential savings.

So, if you’re waiting for 5.99%, that difference might not be worth missing out on today’s opportunities, like having more homes to choose from, better negotiation leverage with today’s sellers, and fewer buyers out there looking for the same houses.

Because the reality is, those benefits start to slip away when more buyers begin to make their moves – and a rate under 6% is exactly they’re waiting for.

Why Acting Now Makes Sense

Jessica Lautz, Deputy Chief Economist and VP of Research at NAR, says:

“Over the last 5 weeks, mortgage rates have averaged 6.31%. This has provided savvy buyers a sweet spot to reexamine the home search process with more inventory, widening their choices.”

And like Matt Vernon, Head of Retail Lending at Bank of America, notes:

“Rather than waiting it out for a rate that they like better, hopeful homebuyers should assess their personal financial situation—if the house is right for them, and the upfront and monthly payments are affordable, it could be the right chance to make a move.”

Bottom Line

If moving at today’s rate scares you, remember, waiting doesn’t always pay off. Once rates dip below 6%, as some experts project they’ll do next year, more buyers (and higher prices) will be back.

So, don’t be afraid of today’s mortgage rates. Because if you’re ready, this might just be your chance to make a move before the market wakes up again.

Downsizing Without Debt: How More Homeowners Are Buying Their Next House in Cash

Listed on Listed by MLS#
Beds Baths Sq.Ft.
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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
<input type="number" id="property_price" name="property_price" value="" style="width: 100%;">
<input type="number" id="property_beds" name="property_beds" value="" style="width: 100%;">
<input type="number" id="property_baths" name="property_baths" step="0.5" value="" style="width: 100%;">
<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

If you’ve been thinking about For Baby Boomers especially, buying in cash gives you more control over your next chapter. You could buy a smaller, less expensive home and have lower costs, less upkeep, and more flexibility to enjoy what matters most. All while staying debt and stress free.

Because downsizing isn’t about downgrading your home. It’s about upgrading your quality of life. And that’s something worth exploring.

Bottom Line

You’ve worked hard for your house. Now it might be time for it to work hard for you.

Talk to your agent about what your house is worth, and what it could unlock for you today. What would your ideal home look like if you were to downsize right now?

Condos Could Be a Win for Today’s Buyers

Listed on Listed by MLS#
Beds Baths Sq.Ft.
<?php $category_links = array(); foreach ($categories as $category) { $category_links[] = 'term_id)) . '" style="color: #666; text-decoration: none;">' . esc_html($category->name) . ''; } echo implode(', ', $category_links); ?>
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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
<input type="number" id="property_price" name="property_price" value="" style="width: 100%;">
<input type="number" id="property_beds" name="property_beds" value="" style="width: 100%;">
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<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.

For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a great location.

And right now, condos are one of the most buyer-friendly parts of the market.

Condo Inventory Is Up, And That Means More Choice

According to the National Association of Realtors (NAR), there are That doesn’t just help with affordability, it also shifts the power dynamic. Condo buyers in many markets are now in a position to negotiate on price and ask for concessions, like help with closing costs.

Bottom Line

Condos aren’t just a fallback option. In today’s market, they’re one of the most strategic ways to buy. With more options, softening prices, and more room to negotiate, now could be the right time to make your move.

Could a condo check more boxes than you expected? Talk through your options with a local real estate agent and find out.

You May Have Enough Equity To Downsize and Buy Your Next House in Cash

Listed on Listed by MLS#
Beds Baths Sq.Ft.
<?php $category_links = array(); foreach ($categories as $category) { $category_links[] = 'term_id)) . '" style="color: #666; text-decoration: none;">' . esc_html($category->name) . ''; } echo implode(', ', $category_links); ?>
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ID, 'property_price', true); $beds = get_post_meta($post->ID, 'property_beds', true); $baths = get_post_meta($post->ID, 'property_baths', true); $sqft = get_post_meta($post->ID, 'property_sqft', true); $mls = get_post_meta($post->ID, 'property_mls', true); ?>
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<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

Some Highlights

  • Have you been holding off on downsizing? If so, you should know your equity could make your move possible.
  • Homeowners today have so much equity that a record number are buying their next house in all cash. And that has some big benefits like making their offer more appealing, potentially closing faster, and not having a mortgage payment.
  • To find out how much equity you have in your current house, connect with a local agent. Because it may be enough to fuel your move.

Does Your Current Home Fit Your Retirement Plans?

Listed on Listed by MLS#
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<input type="number" id="property_price" name="property_price" value="" style="width: 100%;">
<input type="number" id="property_beds" name="property_beds" value="" style="width: 100%;">
<input type="number" id="property_baths" name="property_baths" step="0.5" value="" style="width: 100%;">
<input type="number" id="property_sqft" name="property_sqft" value="" style="width: 100%;">
<input type="text" id="property_mls" name="property_mls" value="" style="width: 100%;">
<?php } // Save property meta data function bhhs_save_property_meta($post_id) { // Check nonce if (!isset($_POST['bhhs_property_details_nonce']) || !wp_verify_nonce($_POST['bhhs_property_details_nonce'], 'bhhs_property_details')) { return; } // Check autosave if (defined('DOING_AUTOSAVE') && DOING_AUTOSAVE) { return; } // Check permissions if (!current_user_can('edit_post', $post_id)) { return; } // Save meta data $meta_fields = array( 'property_price', 'property_beds', 'property_baths', 'property_sqft', 'property_mls' ); foreach ($meta_fields as $field) { if (isset($_POST[$field])) { update_post_meta($post_id, $field, sanitize_text_field($_POST[$field])); } } } add_action('save_post', 'bhhs_save_property_meta');

Retirement isn’t just a milestone. It’s the beginning of something really special. After years of hard work, it’s finally time to slow down, explore new passions, and live life on your own terms.

But with this exciting chapter comes some big choices. And one of the biggest is this: does your current home still make sense for the lifestyle (and budget) you want in this next phase of life?

That’s an especially important question right now. Just in the past five years, the cost of living has jumped by 23% according to the Bureau of Labor Statistics (BLS). That’s based on the Consumer Price Index (CPI), which is how changes are tracked in the average price consumers pay for goods and services (see graph below):

When you’re thinking about how to make your retirement savings last, those rising expenses matter. And if you’ve started to wonder whether your money will stretch as far as you need it to go, don’t worry. You may have more control than you think.

One way many retirees are protecting their savings is by relocating. Because your dollars do go further in some places.

Moving to an area with a lower cost of living can help you save on regular expenses like your housing, utilities, and taxes – especially if you downsize at the same time.

And that can free up room in your budget for the things that make retirement some of the best years of your life: travel, hobbies, spoiling your grandkids, or any of the other things you’ve been dreaming about doing in this next phase.

That’s not to say you have to move. It just means you’ll want to think about where you plan to live and make sure you’ve got enough savings to cover actually living there. It’s all about planning. As Go Banking Rates explains:

“How much you should have saved for retirement depends on a few key factors, including your location. Where you choose to spend your golden years is critical.”

And you don’t always have to go far. Sometimes it’s out of state, but other times moving to the suburbs instead of living near the city can make a big difference. And that’s worth thinking about as you plan for your next chapter.

Whether you’re considering downsizing, moving closer to your grandkids, or heading to an area where you can stretch your savings, a real estate agent can help. They’ll work with you to explore the options that make sense for your goals – and can help make selling your current house easier. They can also connect you with trusted agents in other parts of the country if you’re considering a big move.

Bottom Line

You’ve worked hard to build a future you can enjoy. If your current home or location no longer supports that, it may be time to explore what’s next. 

What does your ideal retirement look like? And could a move help make it even better? Connect with an agent to talk about how to make that vision a reality.

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30+ years experience • 500+ families helped