Is this housing market affordable for the average shopper? Four strategies agents have used successfully

Didier Malagies • June 23, 2021


Crazy. Horrible. Grueling. These are the words real estate agents use when asked to describe the current state of the market and what it’s like to buy a home today. Buyers are facing unprecedented challenges, they say, due to a confluence of housing market conditions:


  • Pricing. Redfin reported earlier this month that the national median home-sale price hit a record high of $377,200 in May, up a record 26% year over year. Over half of homes — 54% — sold above their list price in May for the first time on record.

  • Bidding wars. Redfin also reported this month that seven in 10 buyers — 70.4% — faced bidding wars in May. That’s down slightly from the prior month, but it still indicates that house hunters are facing unprecedented levels of competition as demand skyrockets.

  • Lack of inventory. Real estate agents cited a lack of inventory as the main hurdle preventing their clients from completing a transaction, according to the National Association of Realtors. Due to the pandemic, homeowners have been reluctant to list their homes, so available homes — in any condition — get snapped up quickly.
  • 

Donna Deaton, managing vice president of Re/Max Victory + Affiliates in Cincinnati, who has 19 years of experience, sums up the current buyers’ market as follows: “It’s absolutely horrible,” she said. “We don’t have any inventory. If you’re an FHA or VA buyer, you don’t stand a chance. If it’s a new property on the housing market in an ideal location and move-in ready, it’s a cash buyer or a minimum 20% down buyer. Most of the buyers in this area are putting offers in with no appraisal gap — willing to take care of anything that doesn’t appraise — and no inspections, which makes me cringe.”

So, what does this mean for buyers? Should they give up?




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By Didier Malagies • March 18, 2026
That Redfin data point—$13 trillion in housing wealth held by Americans 70+—is a big deal, and it ties into several powerful trends reshaping the housing and mortgage markets. What’s driving this record wealth? 1. Long-term home price appreciation Older homeowners bought decades ago at much lower prices and have benefited from massive appreciation, especially post-2020. 2. Low mortgage leverage Many in this age group either: Own their homes outright, or Have very small remaining balances So their equity = real wealth , not just paper gains. 3. Aging in place Instead of downsizing, many are staying put longer, allowing equity to continue compounding. Why this matters (big picture) 1. Supply constraint in housing Fewer older homeowners are selling, which: Keeps inventory tight Supports higher home prices This is one reason younger buyers are struggling to find affordable homes. 2. Wealth inequality across generations Younger generations: Face higher home prices Have less access to equity Meanwhile, older Americans control a disproportionate share of housing wealth. Implications for mortgage and lending 1. Rise of equity-based lending This trend directly fuels growth in: Reverse mortgages (HECMs) HELOCs Cash-out refinances That $13T is largely untapped liquidity . 2. “Living off equity” becomes more common With concerns around: Social Security stability Inflation More retirees are using housing wealth as: Income supplementation Emergency reserves 3. Intergenerational wealth transfer We’re seeing more: Parents helping kids with down payments Early inheritance strategies using home equity The hidden risk This isn’t risk-free: If home prices flatten or fall → equity shrinks Property taxes + insurance (especially in places like Florida) can pressure fixed-income retirees Liquidity is still “locked” unless accessed strategically Bottom line That $13 trillion figure isn’t just a stat—it represents a shift in where wealth lives in America : Housing is now the primary balance sheet asset for older Americans It’s becoming a retirement tool , not just a place to live And it’s quietly shaping everything from housing supply to lending innovation  Didier Malagies nmls212566 DDA Mortgage nmls324329

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