Boomer Housing Exodus Expected to Boost U.S. Housing Supply in Coming Decade
The U.S. housing market is anticipating a significant influx of homes as Baby Boomers and the Silent Generation are projected to release approximately 13.9 million homes over the next decade. This represents a 34% increase compared to the number of homes older households released in the previous ten years, according to Realtor.com calculations. Homeownership rates typically remain stable until individuals reach their mid-70s, after which they tend to decline as owners transition to care homes, move in with family, or opt for rentals. With the oldest Boomers turning 80 this year, this demographic shift is expected to alleviate some of the current housing supply shortages. The phenomenon, sometimes referred to as the 'silver tsunami,' will primarily bring midsize or larger homes to the market, with about 9.9 million of the expected homes having three to four bedrooms, a popular size for families.
