The Aging Population’s Impact On Inventory And Homeownership Rates

The share of older Americans is becoming larger and larger as the nation’s median age increases.

David Ader of Bloomberg writes that the national homeownership rate has decreased over the last few years, but not for older people. Homeownership for people 65 and older is 78.8 percent, considerably higher than 63.4 percent for the overall population.

The homeownership rate may dip as the older group continues to age. Many seniors want to downsize, and many have limited savings. They may choose to rent their next home.

But, as they sell, the housing market can expect an uptick in inventory, particularly for older existing homes.

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