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What is the Silver Tsunami and will it help you buy a house?

By
Real Estate Agent with Mike Russell Real Estate Group SP00225692 Kansas

For several years now there has been a prediction of a Silver Tsunami, this wave has nothing to do with global warming but the prediction that homeowners that are 65 or older will start selling their current homes and moving towards smaller homes or other Senior living options.

As we started to live longer and healthier lives there was a trend to stay in your current home longer than normal and home availability crisis that was exacerbated by Covid -19 has kept seniors in their current homes way longer than anyone anticipated.

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This so called Silver Tsunami has been predicted for many years but has not materialized but with 1 in 6 Americans now being 65 or older it seems inevitable that we will see many more sell. In recent  AARP 51% of Americans over 50 would like to downsize , this could bring 30 million homes to market over the next 5-10 years.

As these homes start to come to market it should open up more opportunities to millennials that have been shut out by low inventory and high prices.

Will you be ready when this wave of homes come to the Market?

 

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 Mike Russell is a REALTOR with Keller Williams Realty. Mike specializes in Johnson County Kansas Homes and Real Estate for sale. Mike is a tech savvy realtor with over 20years experience. Did you enjoy Mike's Blog? Feel free to subscribe or join Mike on his Social Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...

Mike Russell Real Estate Group can be reached at 913-266-5828 or MRussell@KW.com  or www.SearchjocoHomes.com

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Comments(2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Mike. Having travelled the silver tsunami trail for some years now, the wife and I are ready to upsize from our downtown apartment to a bigger place in the suburbs. Enjoy your day.

Jan 21, 2024 05:04 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for sharing, make it a great Sunday and enjoy your weekend!

Bill Salvatore, Realtor- Arizona Elite Properties

Jan 21, 2024 05:10 AM