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.

Silver tsunami is a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging. Experts say, so far, a silver tsunami hasn’t happened and it probably won't anytime soon. 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.

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. 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.

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. Let’s connect to learn more about the local housing market.

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