This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information

Wayne Liddy

Royal LePage Peifer Realty Inc., Brokerage

Visit  blog
Follow me on Twitter
Visit me on Facebook
Visit me on LinkedIn
google_plus pinterest
My videos on YouTube
Personal Information
Search For Property
Buying a Home
Selling Home
Tips for Successfully Marketing your Home
Retirement Living
Discover Chatham-Kent the Affordable Destination
Real Estate Updates
Important Resources
Chatham-Kent Neighborhoods
Client Reports




You may have heard rumbling that there is a shortage of homes in the market for sale and wondered why. To fully understand todays market requires some knowledge of the generation numbers and their effects on homes for sale, buyers and the renters market.

Generation X, born between the years of 1965-1984, numbers 83 million. According to some experts, they came into the housing market at the wrong time. In 2004, Generation X homeowners reached an all time historical high of 49.5%. Today 10+ years later those historical averages are 7.0-7.9% below average for that generation. What happened? Many entered the market purchasing overvalued properties with high-risk loans that left them overextended and vulnerable. Some, as a result went back to the renting market, losing money on their investment and others are just catching up. Traditionally, that age group today would be ready to move out of their starter homes to larger homes. A fact that often, is not true for that generation today.

 Now comes the following generation, the Milleniums ( Gen Y) born between 1985-2004. Their sheer numbers present a problem. They are 87 million strong and by 2025 will rise to 93 million due to immigration. That is 10 Million more than Generation X before them.  Even if the market had not undergone any changes, there would still be more Milleniuums looking for entry market homes than numbers  available.First Time Home Buyers Adding to that is the fact that many Generations X are staying where they are, lowering the number of starter homes on the market.

Meanwhile, the rental market is seeing an increase of 3 million more renters in Generation X and that number, coupled with the milleniums who would like to buy but cannot find a starter home, has driven rents steadily higher.

This may seem like doom and gloom, but even with the above facts, the National Association of Realtors (NAR) reported that pending home sales hit the highest rate since May 2006. According to Ron Peltier CEO of Home Services of America, "The confidence has returned to housing, not only as shelter but as a good long-term investment." However, low inventory and stronger demand brought on by an improving economy has had an effect on home prices. This is where it is vital that you consult a Real Estate Expert. He or she knows the market and will have your best interests at heart. A buyer or seller in todays market needs to know what is going on and how best to proceed. I put my clients first and make it my mission to find the best possible buyer at the best fair market price for the sellers property!Happy Home Buyers Call me, Wayne Liddy 519-436-4810 Royal LePage Peifer Realty Inc. Brokerage Chatham-Kent today.I pride myself on old fashioned service coupled with today's technology. Proudly serving the great people of Chatham-Kent in Real Estate since 1986. 

adminlistingsprivacy policycontactsite map
Royal LePage Peifer Realty Inc. Brokerage, independently owned & operated
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
This website is operated by a brokerage or sales person who is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
Canadian Real Estate Association Last Updated: 8/18/2019 11:08:36 AM

Copyright © 2002-2019. All rights reserved.
Internet Marketing for Real Estate Agents by Lone Wolf Technologies.
Lone Wolf Technologies