Report says Seniors and Young Adults Will Influence Housing Market

According to a recent article by the National Association of Realtors®, aging baby boomers and their children will make a significant impact on the U.S. housing market.

The article was based on the findings of a recent report released by the Bipartisan Policy Center. The report analyzed demographic trends and their influence on home ownership in the United States, concluding that within the next 20 years, the aging baby boomer generation will increase the nation's senior population by 30 million.

According to the article, "That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb."

"This increased supply could mean additional buying opportunities for echo boomers. That generation will absorb 75-80 percent of the available inventory of owner-occupied housing by 2020,” said NAR chief economist, Lawrence Yun.

To read the full article, click here: http://www.realtor.org/press_room/news_releases/2012/03/influence