Silver Tsunami May Not Be Enough to Improve Housing Affordability

While many housing industry experts have hoped Baby Boomers would sell their homes and bring a surge of new inventory to the market, recent research from property data provider Cotality shows that this “Silver Tsunami” may be much slower than previously predicted.

Baby Boomers still control the majority of housing

Baby Boomers make up the largest senior population in U.S. history, and compared with earlier generations, they’re more likely to stay in their homes as they age. While over 22% of homeowners born in 1938 moved out between ages 65 and 75, only 17% of those born in 1946 did so during the same stage of life.

Homes are being inherited at a higher rate, but not enough to improve housing market dynamics

Inherited homes are at a record high, with about 340,000 transfers in the year ending August 2025, making up 7% of all property transfers. While this increase is good news for those inheriting homes, the report suggests its not enough to help balance the market. As older homeowners stay in their homes for longer, the turnover of properties has slowed down considerably, and while U.S. inheritance transfers have grown from 4.1% in 2021 to 7% in 2025, the share of homes on the resale market have shrunk from 85.8% to 81.8% during the same period.