The Real Estate Market is constantly changing, and we expect to see a big trend this 2023: Baby Boomers downsizing and moving from big cities to new communities. More and more baby boomers are looking for new areas for quieter living. This blog post will discuss why baby boomers are moving from the big cities and what this means for the real estate market. Stay tuned!
Baby Boomers Are Retiring From Their Jobs and Want to Simplify Their Lives
According to The California Economic Forecast, Baby Boomers are retiring in drove. In 2020, this trend grew even more. By 2023 and 2024, the largest waves of Baby Boomers will turn 65. This data means that Baby Boomers are looking for retirement communities where they can enjoy their golden years.
Impact of Baby Boomer’s Retirement on the Real Estate Market
This new wave of retiring Baby Boomers brings a resurgence of interest among more compact properties in communities with a quiet, suburban lifestyle. This is an excellent opportunity for real estate agents who manage alternative locations to target them.
The Baby Boomer trend is having a significant impact on the real estate market. Baby Boomers actively seek smaller homes, as they don’t need as much space as they once did. This means an influx of Baby Boomers looking for smaller homes in new areas, driving up demand and increasing prices.
Get Ready to Take Advantage of This Trend
In conclusion, Baby Boomers significantly impact the real estate market all over California and beyond. Are you ready for this new trend of 2023? Then, partner with us to immediately access world-class resources that will improve your strategy. If you are prepared to make 2023 your best year yet, set up a strategy session with our team today.