Details for Wendy Larchick At the Rim Team

Baby Boomers are Downsizing,
Are You Ready to Move?
For a while now baby boomers have been blamed for
a portion of the housing market’s current lack of housing
inventory, but should they really be getting the blame?
Here’s what some of the experts have to say on the
subject:
Aaron Terrazas, Senior Economist at Zillow, says that
“Boomers are healthier and working longer than previous generations, which means they aren’t yet ready
to sell their homes.”
According to a study by Realtor.com, 85% of baby
boomers indicated they were not planning to sell
their homes.
It is true that baby boomers are healthier and are thus
working and living longer, but are they also refusing to
sell their homes?
Last month, Trulia looked at the housing situation of
seniors (aged 65+) today compared to that of a decade
ago. Trulia’s study revealed that:
“Although seniors appear to be delaying downsizing until later in life, as a group, households 65 and over
are still downsizing at roughly the same rate as in
years past.”
Trulia also explains that,

“5.5% of households 65 and over moved, pretty
evenly split between moves to single family (2.7%) and
multifamily (2.4%) homes. In 2005, these percentages were virtually the same, with 5.5% of senior
households moving, including 2.5% into single family
and 2.5% into multifamily homes.”
So, if these percentages are the same, what is the
challenge?
Recent reports tell us that the older population grew
from 3 million in 1900 to 47.8 million in 2017.
In addition, the Census recently revised the numbers
from their National Population Projections:
“The aging of baby boomers means that within just
a couple decades, older people are projected to outnumber children for the first time in U.S. history…By
2035, there will be 78.0 million people 65 years and
older compared to 76.7 million under the age of 18.”
Bottom Line
If you are a baby boomer who is not sure whether you
should downsize or move to a warmer climate (other
people are doing it, why not you?), let’s get together so
we can help you evaluate your options today!

Wendy L. Larchick
ASSOCIATE BROKER | PARTNER

928.978-8090

611 S. Beeline Highway • Payson, AZ 85541

wendy@AtTheRim.com
www.AtTheRim.com

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