November 2020 Newsletter

The Impact of COVID-19 on Where Young Adults Live

A recent Pew Research Center analysis of monthly Census Bureau data provides surprising insight into the impact COVID-19 has had on the living patterns of young adults ages 18 to 29.

  • The analysis shows that young adults have been hit hard by the pandemic and its economic ramifications. Nearly 20% have relocated or had someone else move into a residence with them.
  • 23% of young adults say they moved due to the closing of their college campus. Another 18% moved following a job loss or for other financial reasons.
  • 52% of young adults currently live with one or both of their parents. This is up from 47% in February, and it’s the first time since the Great Depression that a majority of young adults are living with their parents.
  • The South is the region with the largest increase in young adults moving in with their parents, which rose approximately 6% between February and July.
  • While numbers have grown throughout the country, the Northeast currently has the largest percentage (57%) of young adults living at home.


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Also in this issue…
Home Staging During the Holidays
Bathroom Remodel: Essential Tips
Renters Could Buy Due to Flexibility of Remote Work
Market Breaks Historical Trends

Home Staging During the Holidays

If you’re listing your home during the holidays, it’s important to be mindful of how you decorate and stage your space. Make your house look bright and inviting this season with these suggestions.

  • Elevate curb appeal. Simple strands of white lights can accentuate the architecture of your house, and an elegant wreath on the front door provides a charming first impression. Save the inflatable characters for next year.
  • Scale back. Classy holiday decor can help your home feel warm and cozy, but overdoing it will make the space feel small and cluttered. If you put up a tree, minimize the ornaments and try to choose ones that blend with the color scheme of the room.
  • Depersonalize decor. Make it easy for buyers to envision having their own holiday celebrations in the space. Box up family holiday photos and keepsake creations your kids made in school. Put away greeting cards you receive instead of hanging them on a display this year.
  • Highlight the best features. Use decorations to draw buyers’ eyes to features such as an attractive staircase, a beautiful fireplace mantel, unique arched doorways, or sunny bay windows.

Three reasons why the holiday season is a good time to sell:

  • Less competition – Fewer houses are on the market during the winter months, meaning buyers won’t have as many options. This could mean a quicker sale at a better price for you.
  • Serious buyers – Buyers who are making time to look at houses during the busy holiday season are serious about moving forward. They’re likely on a time crunch to find a new home and highly motivated to move quickly.
  • Nostalgia works – Walking into a home warmly decorated for the holidays automatically stirs emotions and draws buyers into imagining hosting their own celebrations in the space.


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Bathroom Remodel: Essential Tips

Consider these important design elements when renovating a bathroom.

Substandard lighting can be either ineffective or too intense. Focus on both function and ambience by incorporating a layered lighting design. Include a natural light source, multiple types of fixtures and task lighting around mirrors.

Oversize fixtures such as bathtubs, vanities or showers take up a lot of floor space and may look disproportionate to the room. If you’re working with a small bath, opt for slender or inset features that maximize the available space.

A toilet as the focal point of the bath can be an unpleasant look, especially if it’s the initial view from the doorway. Try opening the entrance to a window, a vanity or a freestanding tub for a more aesthetically pleasing design.


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Renters Could Buy Due to Flexibility of Remote Work

The pandemic has created rippling effects on today’s economy and workforce. For millions of Americans, the new possibility of owning a home is one indirect (and unexpected) result.

Remote working skyrocketed during the pandemic, and if it continues to be a long-term option, thousands of workers will no longer need to live in close proximity to their company’s physical location. As a result, some individuals who couldn’t afford to buy a home in expensive metro areas may have the option to move to more affordable cities and purchase average-priced starter homes.

Office location is not the only consideration that determines where people choose to live. Friends and family nearby, favorite restaurants and retail stores, availability of arts and cultural experiences, the climate, and natural attractions also factor into the equation. While not every remote worker is expected to flee large metros, recently reported that roughly 2 million renters have the potential to afford a starter home in another area.


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Market Breaks Historical Trends

If this year has taught us anything, it’s that precedent can be broken. According to a recent report from®, home sales didn’t follow their historical trends this fall. Typically, sales slow and prices dip slightly as families settle into the new school year. This year, however, buyers continued to be highly motivated and remote learning left them more flexibility in their home search.

At the end of the third quarter, homes sold an average of 12 days faster and for $20,000 more than expected. Inventory continued to be extremely tight with active listings down 21% from the beginning of the year.

Motivated buyers are eager to view resale properties. If you’re interested in listing your home, reach out anytime.


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©2020 The Personal Marketing Company. All rights reserved. Reproductions in any form, in part or in whole, are prohibited without written permission. If your property is currently listed for sale or lease, this is not intended as a solicitation of that listing. The material in this publication is for your information only and not intended to be used in lieu of seeking additional consumer or professional advice. All trademarked names or quotations are registered trademarks of their respective owners.

The Personal Marketing Company
11511 W. 83rd Terrace
Lenexa, KS 66214


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