A new report from researchers at the National Association of Realtors®, The Urban Institute, and the University of Southern California analyzed some of the key demographic trends and how they are likely to influence housing and homeownership trends in the U.S. in the coming decades:
The face of the housing industry will change in the years to come Over the next two decades, the aging baby boomer generation will swell the nation’s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb.
“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.”
You can learn more by viewing the full report, “Demographic Challenges and Opportunities for U.S. Housing Markets.”