The Coming Silver Tsunami Could be More Like a Gradual Wave

The term “Silver Tsunami” has been making rounds, suggesting a massive shift of baby boomers downsizing or relocating simultaneously. This scenario raises concerns about a potential flood of properties hitting the market, intensifying competition for smaller homes, and disrupting the supply-demand equilibrium, potentially affecting property values.

However, this perspective overlooks several key points. Let’s address these misconceptions and provide some reassurance.

Not Every Baby Boomer Intends to Relocate

Firstly, a significant number of baby boomers have no intention of moving. According to a study by AARP, over half of individuals aged 65 and older prefer to remain in their current residences as they age (refer to the accompanying pie chart):

Although life circumstances can evolve, leading some who hadn’t planned to move to reconsider, the majority aim to age in place.

Those who do stay are likely to adapt their homes to meet changing needs. When renovations are insufficient, some may purchase a second property, maintaining their original home as an investment to support their family’s financial future. As reported by Inman:

“Many boomers have no desire to retire fully and take up less space . . . Many will modify their current home, and the wealthiest will opt to have multiple homes.”

The Movement of Those Who Choose to Move Will Be Staggered

Not every baby boomer is eager to sell their home and relocate, and those who do will not do so simultaneously. This transition is expected to unfold gradually over the coming years. Freddie Mac predicts:

“We forecast the ‘tsunami’ will be more like a tide, bringing a gradual exit of 9.2 million Boomers by 2035 . . .”

Echoing this sentiment, Mark Fleming, Chief Economist at First American, notes:

“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.”

Bottom Line

The notion of a “Silver Tsunami” abruptly destabilizing the housing market is unfounded. The movement of baby boomers will be a prolonged process, dispelling fears of an immediate upheaval. Connect with the Seiniors Real Estate Specialists^® (SRES^®) at Countryside Homes NJ and RE/MAX Select can keep you informed about the latest market trends, including the current inventory of homes, which is likely to rise in the coming weeks with the Spring housing market getting into full swing.

Client Testimonials for Countryside Homes NJ

At Countryside Homes NJ and RE/MAX Select, we pride ourselves on delivering exceptional service to our clients. But don’t just take our word for it—read what our satisfied customers have to say. From first-time homebuyers to seasoned real estate investors and new home builders, our clients appreciate our dedication, expertise, and commitment to their success. Here are some of their stories.

David R. New Homeowner

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Rachel and Andre First Time Homebuyer

As first-time homebuyers, the process of finding and purchasing a home felt daunting. But from the moment we reached out to Heather and Keith at Countryside Homes NJ and RE/MAX Select, our worries were put to rest. Their team was incredibly patient, answering all our questions and guiding us through every step. They took the time to understand our needs and preferences, ensuring that we found the perfect home in a neighborhood we love. We were especially impressed by their vast knowledge of the local market and their commitment to ensuring we got the best deal possible. We can't thank them enough for making our dream of homeownership a reality. If you're in the market for a new home, we highly recommend Heather and Keith at Countryside Homes NJ and RE/MAX Select. They truly go above and beyond for their clients!

Prestia Family New Homeowners

From the moment we began our home search, Heather at Countryside Homes NJ and RE/MAX Select stood out as the epitome of professionalism and dedication. Her team's in-depth knowledge of the Rockaway Borough area and their unwavering commitment to our needs made our home buying journey not only smooth but truly enjoyable. As new homeowners in Rockaway Borough, NJ, we can confidently say that choosing Heather at Countryside Homes NJ and RE/MAX Select was the best decision we made. Her expertise, patience, and genuine care for our family's needs transformed what could have been a stressful process into a memorable and joyous occasion. We are beyond grateful for her support and would highly recommend her and her team to anyone looking to find their dream home. Thank you for turning our dreams into reality!