The latest publication from the Senior Advantage Real Estate Council
(SAREC(R)) released today highlights the unique homebuying and
selling challenges facing today's baby boomers as they enter into
their senior years
"Baby Boomers: The Next Generation Seniors Market -- Trends that
Impact Seniors' Home Buying and Selling Habits" is the second in a
series of informational reports produced by the SAREC(R).
"Today's baby boomer is far from the typical real estate client,"
said Nathan Booth, senior advisor to SAREC(R). "Many from this
generation are experiencing the unique situation of becoming
caregivers to their parents while raising children and planning for
their own retirement."
The baby boomer generation, born between 1947 and 1964, is the
largest demographic group now contemplating its senior years,
according to the report. Those born in 1947 will be 57 this year,
while the number of boomers and seniors will increase by 87 percent
over the next 15 years.
Last year, 41 percent of all home sellers were 55 years old or
older. That number is expected to increase as more boomer homeowners
become empty nesters, according to the report.
"Intelligent real estate planning can be one of the most important
issues impacting boomers' financial security," Booth said. "In
addition to meeting their own real estate requirements, baby boomers
also are in need of identifying a REALTOR(R) who can provide their
parents with appropriate living options.
For seniors who have not bought or sold a home in many years, the
real estate transaction process can be overwhelming."
The report also revealed that there is a significant increase in the
number of senior second-homebuyers. This trend is expected to
continue with the boomer generation, as
