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Seniors’ Housing Wealth Hits Record High

January 24, 2020

Seniors who own a home are in a good place, financially that is. Homeowners 62 and older saw their housing wealth increase by 0.3 percent, or $24 billion. With that, senior housing wealth reached a total record high of $7.19 trillion, according to the National Reverse Mortgage Lenders Association. The increase resulted from a 0.5 percent increase in the value of seniors’ homes.

For the overall market, rising home prices have meant rising housing wealth for most homeowners, regardless of age, said economists at the Real Estate Forecast Summit hosted by the National Association of Realtors.

Tagged With: Housing Market, Housing Wealth, National Association of Realtors, National Reverse Mortgage Lenders Association, Senior Housing

CA BRE #01211313

Coldwell Banker Residential Brokerage
CA BRE #00616212

5 Moraga Way
Orinda, CA 94563

info@lamorindahomefinder.com

Office: 925-923-4600
Mobile: 925-878-2334
DRE: #01211313

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