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- All Pricing Selling Myths
  
  Struggling To Sell Your House? Read This.
  
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  Why More Sellers Are Hiring Real Estate Agents
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- Selling Myths
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  Why Moving to a More Affordable Area Makes Sense
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- 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 Page 3

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

Your House Could Be the #1 Item on a Homebuyer’s Wish...

Timothy Alston - November 28, 2022 0

More People Are Finding the Benefits of Multigenerational Households Today

Timothy Alston - November 17, 2022 0

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t...

Timothy Alston - November 3, 2022 0

Millennials Are Still a Driving Force of Today’s Buyer Demand

Timothy Alston - October 27, 2022 0

Is It Time To Buy a Smaller Home?

Timothy Alston - April 18, 2022 0

What Is Multigenerational Housing?

Timothy Alston - April 15, 2022 0

Millennials: Do You Need a Home with More Space?

Timothy Alston - February 28, 2022 0

The Path To Homeownership Can Be Steeper for Some Americans

Timothy Alston - February 9, 2022 0

Millions of Americans Have Discovered the Benefits of Multigenerational Households

Timothy Alston - February 3, 2022 0

The Next Generation of Homebuyers Is Here

Timothy Alston - January 25, 2022 0

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