Saturday, December 21, 2024

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Home Sellers
- All Pricing Selling Myths
  
  Struggling To Sell Your House? Read This.
  
  Only an Expert Agent Can Give You an Accurate Value of…
  
  What Will It Take for Prices To Come Down?
  
  Why More Sellers Are Hiring Real Estate Agents
- Pricing
- Selling Myths
Home Buyers
- All First Time Home Buyers Foreclosures Interest Rates Move-Up Buyers Rent vs. Buy
  
  The Biggest Perks of Buying a Home This Winter
  
  What Homebuyers Need To Know About Credit Scores
  
  The Top 2 Reasons To Look at Newly Built Homes
  
  Why Moving to a More Affordable Area Makes Sense
- First Time Home Buyers
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- Move-Up Buyers
- Rent vs. Buy
Luxury Market
- The Latest on the Luxury Home Market
  
  5 captivating home staging trends for spring
  
  Is It Time To Sell Your Second Home?
  
  Luxury Homes Are in High Demand
  
  Why Summer Is a Great Time To Buy a Vacation Home
Demographics
- All Baby Boomers Gen Z Generation X Millennials
  
  The Benefits of Downsizing When You Retire
  
  Will a Silver Tsunami Change the 2024 Housing Market?
  
  Is Owning a Home Still the American Dream for Younger Buyers?
  
  Life-Changing Events That Move the Housing Market
- Baby Boomers
- Gen Z
- Generation X
- Millennials
Video
- Do You Know How Much Equity You Have?
  
  4 Tips for Selling Your House This Spring
  
  Why You May Want To Consider a Newly Built Home Today
  
  What Are Your Goals for 2024?
  
  Pre-Approval Matters When Buying a Home

Home Demographics

Demographics

Latest

The Benefits of Downsizing When You Retire

The Benefits of Downsizing When You Retire

Timothy Alston - March 7, 2024

Will a Silver Tsunami Change the 2024 Housing Market? Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .” The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more. The concept makes sense in theory, but will it happen? And if so, when? Why It Won’t Have a Huge Impact on the Housing Market in 2024 Experts say, so far, a silver tsunami hasn’t happened – and it probably won't anytime soon. According to that same article from HousingWire: “. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.” Here’s just one reason why. Many baby boomers don’t want to move. Data from the AARP shows over half of the surveyed adults ages 65 and up plan to stay put and age in place in their current home rather than move (see chart below): Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. As Mark Fleming, Chief Economist at First American, says: “Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they're going to take about two decades to work their way through.” Bottom Line If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best: Will a Silver Tsunami Change the 2024 Housing Market?

Will a Silver Tsunami Change the 2024 Housing Market?

Is Owning a Home Still the American Dream for Younger Buyers?

Is Owning a Home Still the American Dream for Younger Buyers?

Life-Changing Events That Move the Housing Market

Life-Changing Events That Move the Housing Market

How VA Loans Can Help Make Homeownership Dreams Come True

How VA Loans Can Help Make Homeownership Dreams Come True

The Benefits of Buying a Multi-Generational Home

Timothy Alston - November 3, 2023 0

What Are Accessory Dwelling Units and How Can They Benefit You?

What Are Accessory Dwelling Units and How Can They Benefit You?

Timothy Alston - November 1, 2023 0

Are Grandparents Moving To Be Closer to Their Grandkids?

Are Grandparents Moving To Be Closer to Their Grandkids?

Timothy Alston - October 10, 2023 0

Are You a Homebuyer Worried About Climate Risks?

Are You a Homebuyer Worried About Climate Risks?

Timothy Alston - October 5, 2023 0

Should Baby Boomers Buy or Rent After Selling Their Houses?

Should Baby Boomers Buy or Rent After Selling Their Houses?

Timothy Alston - September 13, 2023 0

Planning to Retire? Your Equity Can Help You Make a Move

Planning to Retire? Your Equity Can Help You Make a Move

Timothy Alston - September 11, 2023 0

Buyer Traffic Is Still Stronger than the Norm

Buyer Traffic Is Still Stronger than the Norm

Timothy Alston - August 30, 2023 0

Why You May Still Want To Sell Your House After All

Why You May Still Want To Sell Your House After All

Timothy Alston - August 29, 2023 0

Gen Z: The Next Generation Is Making Moves in the Housing Market

Gen Z: The Next Generation Is Making Moves in the Housing...

Timothy Alston - August 28, 2023 0

How Homeowners Win When They Downsize

Timothy Alston - May 4, 2023 0

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