{"id":3891,"date":"2023-01-23T16:49:57","date_gmt":"2023-01-23T16:49:57","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/01\/23\/baby-boomers-and-retirees-set-the-tone-for-housing-market\/"},"modified":"2025-03-13T02:48:47","modified_gmt":"2025-03-13T02:48:47","slug":"baby-boomers-and-retirees-set-the-tone-for-housing-market","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/01\/23\/baby-boomers-and-retirees-set-the-tone-for-housing-market\/","title":{"rendered":"Retirees set the tone for housing market"},"content":{"rendered":"\n

The oldest Americans aren’t always considered trendsetters, but in 2023 they’ll be on the forefront of home buying and selling. <\/p>\n\n\n\n

Each year, TKI releases its nSKOPE Predictive Analytics Report. This report predicts the number of homes that will be on the market in the next year, where those homes will be located and what the demographics of homebuyers may be. <\/p>\n\n\n\n

In 2023, Baby Boomers and retirees will be setting the curve in the housing market<\/a>. <\/p>\n\n\n\n

According to the report, \u201cEmpty nesters, homeowners between 45-64 with no children at home, are expected to make up 10.2% of all listings.\u201d The report goes on to note that, \u201cRetirees \u2014 those 65 and older \u2014 are expected to be 7.5% of the selling community.\u201d<\/p>\n\n\n\n

Older Americans continue to flock to warm-weather destinations<\/h2>\n\n\n\n

These older Americans are flocking to the standard locations that have attracted retirees for years: Arizona, Florida, Myrtle Beach and Santa Rosa. <\/p>\n\n\n\n

However, in 2022 the city that\u2019s market activity<\/a> was the most accurately predicted by TKI was Decatur, Illinois. <\/p>\n\n\n\n

Despite not being a retiree destination, Decatur, Illinois was predicted to list 2,024 homes in the past year. In reality, they listed 22.9% of those properties. Other cities that were accurately predicted included Kalamazoo, Michigan, Jacksonville, North Carolina and Colorado Springs, Colorado. <\/p>\n\n\n\n

To make these predictions, TKI analyzes thousands of zip codes and their housing market activity.\u00a0<\/p>\n\n\n\n

Demographics most likely to move<\/h2>\n\n\n\n

They also predict the movements of specific age demographics, including families with school-aged children, single buyers, couples and older families. The 2023 predictions for these groups were as follows:  <\/p>\n\n\n\n