Baby Boomers, born 1946–1964, occupy roughly 32 million owner-occupied homes and represent about two of five U.S. homeowners. Adults from earlier generations own another 14 million homes. As Boomers age into their 70s and beyond, exits from homeownership through downsizing, renting, moves to senior care, or death will accelerate, increasing resale supply over coming decades. Many current homeowners reside in long-term 'forever' homes, making estate sales a likely dominant source of resale inventory and advantaging buyers. A concentrated local wave of senior departures can transfer short-term control of home values to heirs. Monitoring older-adult homeownership transitions is important for business and policy.
The Baby Boomer generation, which comprises those born between 1946 and 1964, has an enormous Boston condo for sale market footprint. Baby Boomers inhabit 32 million owner-occupied homes, accounting for two out of five homeowners in the United States. Generations born before the Boomers own another 14 million homes. Departures of these older adults from the homeownership market (leaving for rentals, senior care facilities, or by reason of death) will accelerate as the large Baby Boom generation continues to age.
Fannie Mae is predicting that more will be exiting homeownership but mostly due to aging out which should spread the impact over a couple of decades. But if you have 3-4 seniors check out of your neighborhood within a few months....their heirs will have your home's value in their hands for at least for the short-term. With most of today's homeowners living in their forever home, it's likely we'll see the residential resale market being dominated by estate sales, which will favor the buyers.
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