Retirees looking to downsize will have a significant impact on the housing market in 2016.
Realtor.com says that people ages 65 to 74 (a mix of baby boomers and members of the silent generation) will comprise the third-largest home-purchasing segment of the population next year, after Millennials and Gen Xers. The group is looking to cut costs, and projections say that buying and selling activity will be most prevalent in the spring.
The website also named the 10 best senior-friendly markets. Boston led the pack, with a median household income of $56,066 for ages 65-to-74 heads of households in 2015. The maximum affordable home price in the city is $235,952. Other notable cities include San Diego, St. Louis, Atlanta, and Tucson, Ariz.
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