
The sizzling hot housing market is driving some homeowners to cash in big, selling their larger homes and opting to downsize while pocketing the profits. According to the National Association of Realtors (NAR), in October 2021, the U.S real estate market registered a 7% increase in existing home sales. The average home price in Ventura County in December 2021 was $805,000, an 18.4% increase from December 2020 (Redfin.com).
Top housing markets in California, Arizona, and Nevada are seeing a hot new trend – downsizing. While some families look to make the jump to expansive suburban homes, there is a savvy group of homeowners making a different choice: downsizing to a comfortable and affordable home. Whether it be a city condo in a more walkable neighborhood closer to public transit or a tidy beachfront estate they have always dreamed of owning, young professionals to retirees are making moves.
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