Not All Baby Boomers Plan To Move
For starters, plenty of baby boomers don’t plan on moving at all. A study from the AARP says more than half of adults aged 65 and older want to stay in their homes and not move as they age (see graph below):
When it comes to baby boomer housing trends, the concept of a “Silver Tsunami” has been a concern. However, not all baby boomers plan to move. According to a study from the AARP, more than half of adults aged 65 and older want to age in place, staying in their current homes.
While some may eventually need to downsize or move due to changing circumstances, the majority prefer to remain in their homes and make necessary modifications as they age.
Additionally, some baby boomers who do decide to move may opt to purchase a second home while retaining their original property as an investment.
Even Those Who Do Move Won’t Do It All at Once
For those baby boomers who do choose to sell their homes and relocate, the process will unfold gradually over many years. Rather than a sudden influx of homes on the market, the shift will resemble a tide, as described by Freddie Mac.
Mark Fleming, Chief Economist at First American, emphasizes that demographic changes, such as those related to the baby boomer generation, occur over an extended period. Therefore, any impact on the housing market will be spread out over time.
I had the privilege of helping many families in life transitions my whole career as a realtor. Meg’s family is one of them. Check out her video on my YouTube Channel right below.
Conclusion
Contrary to fears of a “Silver Tsunami” disrupting the housing market, the reality is that baby boomer housing trends point towards a more gradual transition. With many baby boomers opting to age in place and those who do move to do so over an extended period, the housing market is unlikely to experience sudden upheaval.
By understanding these trends, homeowners, real estate professionals, and policymakers can prepare for the evolving needs of the aging population, ensuring a smoother transition and stability in the housing market.
Reach out to us, and we’ll be delighted to assist you in finding your dream home. Stay tuned for all updates! Follow us on social media, Facebook, Instagram, and YouTube.
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Top Charlotte Real Estate Agent As Seen on House Hunters Charlotte guiding her buyer Lyndsay on her relocation.
Charlotte Real Estate Agent
Danielle Edwards
danielleedwards@REMAX.net
704-604-2999
