Baby boomers and members of the Silent Generation are expected to release 13.9 million homes during the next decade, increasing housing supply but providing relatively little relief for first-time buyers, according to new research from Realtor.com.
The projected total represents a 34 percent increase from the roughly 8 million homes the generations released during the previous decade. Realtor.com estimates the annual pace will increase from approximately 1.27 million homes in 2027 to 1.52 million in 2036.
Baby boomers and the Silent Generation currently live in an estimated 36.7 million homes they own. By 2036, that figure is expected to decline to 22.8 million. Homes may be released through death, a move to institutional care, household consolidation or a move to rental housing.
The composition of the additional supply, however, is expected to vary significantly by housing type. Family homes with three to four bedrooms are projected to account for 9.9 million,
