Aging baby boomers will increase the senior population by about 30 million over the next 20 years. With that shift, the supply of houses will likely increase since typically people over age 65 sell their houses more than they buy houses.
“The Northeast and Midwest are most likely to see a large number of older homeowners selling their homes to younger homeowners as the baby boomers age,” said NAR Chief Economist Lawrence Yun. “This increased supply could mean additional buying opportunities for echo boomers. That generation will absorb 75-80 percent of the available inventory of owner-occupied housing by 2020.”
For more information, view Seniors and Young Adults Will Influence U.S. Housing Markets