Potential Hot Spots With Available Housing Once Boomers Start Leaving
A Zillow report has coined the phrase The Silver Tsunami to describe a predicted wave of homes that will be available once Baby Boomers start to leave them. In the report, the company outlines hotspots that should be opening up in terms of available inventory.
Those living in states affected by low-inventory could very well see some relief over the next 20 years, according to the report.
"More than a quarter (27.4 percent) of the nation’s currently owner-occupied homes are likely to hit the market as their current owners pass away or otherwise vacate their homes," according to Zillow.
"Places likely to be most impacted by this upcoming Silver Tsunami include both retirement hubs (Miami, Orlando, Tampa and Tucson) and regions where young residents have left (Cleveland, Dayton, Knoxville and Pittsburgh)."
The report also takes into consideration the number of Baby Boomers that will be passing away in the coming decades, predicting a flood of owner-occupied homes to hit the market in the coming years.
To learn more about Zillow's inventory prediction and how Baby Boomers could be the key to more available inventory over the next 20 years, click on the image above.