The solo homebuyer has become ever-present in real estate markets across the country, but the next wave of Eastern Panhandle homebuyers is scheduled to arrive in the next two decades and real estate agents are beginning to take their places. Described as a tsunami due to the sheer number of people in this group, West Virginia housing is set to change as more of them move into neighborhoods across the country.
According to KCM, "the largest demographic tsunami in the history of our nation is scheduled to arrive in the next 2+ decades." So who are these future homeowners? The group of individuals who turn 65 every day— the senior citizen category. The industry term is actually titled the "Silver Tsunami" as more of the 65+ crowd move into local real estate markets looking to purchase a new home that fits their changing needs.
The statistic shows that 10,000 people turn 65 in the United States daily. "Today there are 34+ million Seniors aged 65 and over and by the year 2030, over 70 million will live in the U.S.," KCM reported. "The leading edge of the Baby Boomer generation, or those born between 1946 and 1964, will gently wake us all up and make us aware of their life needs. At peak numbers, this demographic will reshape the economy of the United States."
The coming real estate wave can be compared to the rise of short sales in markets across the country. Those prepared to focus on them prospered— such is the case for those preparing to deal with the heightened buyer demand of senior citizens.
Now with the industry improving and the homes for sale in Jefferson County and Berkeley County pointed in a positive direction, real estate agents are becoming increasingly comfortable in their abilities to help this demographic with all of their real estate and life needs. Looking for an agent to fulfill your goal in becoming an Eastern Panhandle homeowner or selling your current property? Let the Kable Team take care of you!
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