Recent reporting from the Oregon Office of Economic Analysis found that aging homeowners are staying in single-family homes longer than ever.
The analysis challenged the common assumption that the majority of homeowners downsize as they get older. The study also found, however, that the shrinking number of households that do move after the age of 60 tend to choose smaller livings spaces, often dropping as many as 2 non-bathroom rooms.
Moving rates and downsizing among households in their early retirement years is not very common. In fact it is less common today than in decades past. However, among those that do move in their 60s and 70s, they downsize. Given the large Baby Boomer generation continues to age into their retirement years, the absolute number of such moves is expected to rise, even if it remains a relatively small share of the housing market overall.
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