The Silver Tsunami in Real Estate: What South Jersey Sellers Should Know

By Mike Lentz | The Mike Lentz Team - Keller Williams Realty

You may have heard the term “silver tsunami” lately. It describes millions of homes owned by older Americans that could reach the market as more owners retire and make their next move.

The phrase suggests a flood of listings arriving all at once. The data shows a slower pace. If you plan to sell in Camden, Burlington, Gloucester, Salem, or Cumberland County, this is no reason to put your plans on hold.

The silver tsunami in real estate is a gradual shift

According to Realtor.com, about 13.9 million homes owned by older Americans are expected to change hands by 2036. That is a national figure, and it is a big one. These homes are not all expected to list at once.

The projections spread the shift across the next decade. Nationally, roughly 1.3 to 1.5 million homes change hands each year (see graph below):

Longtime homeowners decide on their own schedules where and how they want to live. Some downsize. Some move closer to family. Some stay put.

The term makes a dramatic headline. The actual data tells a much quieter story. A second factor also keeps these homes from overwhelming the market.

The market has room for more homes

After the 2008 housing crash, builders slowed construction sharply. For years afterward, they did not build enough homes to keep up with demand. That left a shortage we still deal with today.

Estimates of the gap vary, but many experts say the country is still millions of homes short. A recent report from the White House Council of Economic Advisers explains:

“If homebuilding and the growth of the single-family housing stock had continued at their historical pace instead of falling dramatically after 2008, there would be 10 million or more additional single-family homes today.“

The silver tsunami in real estate meets a market that is already short on homes. Houses from longtime owners will fill part of that gap. They will not overwhelm it, because more households are forming over the decade ahead, and those households need homes too.

More homes becoming available over time gives buyers more options. It also moves the market toward balance. Our guide to buyer’s or seller’s market conditions shows how to read them in your county.

What matters when you sell in South Jersey

Real estate is local. A national projection about the next decade does not set your price. Your own market does.

Inventory and sales speed differ from one county to the next. Camden, Burlington, Gloucester, Salem, and Cumberland counties each have their own conditions. Those conditions drive how you price, prepare, and market your house.

What a local agent can tell you

An agent who knows your area can help you understand three things:

• How many homes are for sale nearby. This shows how much choice buyers have and how your house will compare.

• What similar houses are actually selling for. This is one of the biggest factors in setting a competitive asking price. Our guide on how to price your home to sell covers the process.

• What buyers are looking for right now. Knowing which features and improvements matter most helps your house make a strong first impression.

You can act on all three today. None of them depends on what happens over the next decade.

Selling during the silver tsunami in real estate

The silver tsunami sounds like a major wave of homes arriving at once. The research points to a gradual shift over the next decade and no sudden flood of listings.

If you are thinking about selling, do not let that headline make you second-guess your plans. Base your decisions on what is happening in your county right now.

If you want to talk through what this means for your situation, schedule a quick call and we’ll walk through it together.

For the full picture in your county, see our county market reports for Camden, Burlington, Gloucester, Salem, and Cumberland counties.