For years, Millennials dominated the real estate conversation. But according to a new report from the National Association of REALTORS®, Baby Boomers are now the largest group of home buyers in America — and today’s housing market is increasingly shaped by life transitions.
At the same time, first-time home buyers have fallen to the lowest level ever recorded by NAR since tracking began in 1981.
These are not just national statistics.
They are real-life trends affecting families right here in Greater Lansing, including:
- Downsizing decisions
- Helping aging parents move
- Estate property transitions
- Multigenerational housing
- Retirement planning
- Aging in place
- Housing affordability challenges
- Probate and inheritance decisions
For many families, real estate today is no longer just about buying or selling a house.
It’s about navigating life transitions.
The “Silver Tsunami” Is Already Here
Every day, thousands of Americans turn 65, and that demographic shift is beginning to impact nearly every part of the housing market.
Baby Boomers now represent:
- 42% of all home buyers
- 55% of all home sellers nationally
Many Boomers have owned homes for decades, allowing them to build substantial equity. That equity is giving them more flexibility to:
- Downsize
- Relocate closer to family
- Purchase homes with cash
- Move into retirement-friendly housing
- Buy multigenerational homes
- Transition into communities with less maintenance
Meanwhile, younger buyers are entering the market later in life due to affordability challenges and limited inventory.
This growing divide is reshaping how families think about housing decisions.
- Senior Resource Hub for Greater Lansing families
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- Helping aging parents move
Why Baby Boomers Are Dominating Today’s Housing Market
One of the biggest reasons Boomers are leading the market is home equity.
Many homeowners who purchased homes years ago have experienced decades of appreciation. As a result, they often enter today’s market with:
- Large down payments
- Significant equity
- Cash purchasing power
- Lower debt obligations
NAR reports that many older buyers are now making lifestyle-driven housing decisions rather than purely financial ones.
Common reasons include:
- Retirement
- Health concerns
- Moving closer to family
- Reducing maintenance
- Simplifying life
- Preparing for future care needs
In Greater Lansing, these conversations are happening every day.
Families are trying to determine:
- Should mom or dad remain in the home?
- Is downsizing the right move?
- Would independent living make sense?
- Should the family keep an inherited property?
- Is aging in place realistic long term?
These are emotional decisions — not just financial ones.
Why First-Time Buyers Are Struggling
While equity-rich homeowners continue moving through the market, first-time buyers face increasing barriers.
NAR reports first-time buyers now represent only 21% of the market — the lowest share on record.
Several factors are contributing:
- Higher home prices
- Elevated mortgage rates
- Limited entry-level inventory
- Competition from cash buyers
- Delayed household formation
The median age of first-time buyers has also increased significantly in recent years.
For many younger families, homeownership now takes longer to achieve than it did for previous generations.
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Helping Parents Move: Where Families Often Get Stuck
One of the biggest challenges families face is not knowing when to start the conversation.
Adult children often notice concerns before parents are ready to discuss moving:
- Home maintenance becoming difficult
- Safety concerns
- Isolation
- Stairs and mobility issues
- Deferred repairs
- Driving concerns
- Managing finances or medications
At the same time, parents may feel:
- Emotionally attached to the home
- Overwhelmed by downsizing
- Uncertain about future housing options
- Concerned about losing independence
This is where planning matters.
Housing decisions are easier when families begin discussing options before a crisis forces quick decisions.
Aging in Place vs Downsizing
Not every senior wants to move.
In fact, many older homeowners are choosing to remain in their homes longer.
But aging in place only works when the home still supports:
- Safety
- Accessibility
- Affordability
- Social connection
- Daily living needs
For some families, modifying the home makes sense.
For others, downsizing creates:
- Less maintenance
- Reduced expenses
- Simpler living
- Better access to services
- Improved quality of life
The right answer depends on:
- Health
- Finances
- Family support
- Lifestyle goals
- Long-term planning
There is no one-size-fits-all solution.
Multigenerational Living Is Growing Again
Another major trend reshaping housing is the return of multigenerational living.
According to recent housing data, more families are purchasing homes designed for:
- Aging parents
- Adult children returning home
- Shared caregiving
- Shared expenses
- Flexible living arrangements
This trend accelerated during the pandemic but continues growing due to affordability pressures and caregiving needs.
Many newer homes now include:
- Separate living areas
- Main-floor suites
- Dual primary bedrooms
- Flexible spaces for extended family
For some families, multigenerational housing creates both financial and emotional benefits.
Estate Planning and Real Estate Decisions
As more families face aging-related transitions, estate planning and real estate decisions are becoming increasingly connected.
Questions families often face include:
- What happens to the house if a parent passes away?
- Does the property need probate?
- Should the home be sold or kept?
- Who is responsible for repairs and maintenance?
- What should be done before listing the property?
These situations are rarely simple.
They involve:
- Legal considerations
- Emotional decisions
- Family communication
- Timing issues
- Financial planning
That’s why planning ahead matters.
The Biggest Mistakes Seniors Make Before a Move
One of the most common mistakes families make is waiting too long to begin planning.
Other common issues include:
- Delaying difficult conversations
- Waiting until health forces urgent decisions
- Over-improving a home before selling
- Underestimating the emotional side of downsizing
- Failing to organize documents and belongings early
- Not understanding local housing options
The earlier families begin planning, the more options they usually have.
Start Here:
If your family is beginning to discuss downsizing, helping aging parents, estate property decisions, or planning the next stage of life, having the right guidance can make the process far less overwhelming.
I’ve helped Greater Lansing families navigate these transitions for decades with a practical, educational, and compassionate approach focused on making informed decisions — not rushed ones.
Whether you are planning ahead, exploring senior housing options, preparing a home for sale, or simply trying to understand your choices, I invite you to explore the resources throughout this site or reach out for a confidential conversation.
Your next chapter deserves a clear plan.
Mike Bowler
Associate Broker | eXp Realty LLC
SRES®, CRB®, ePRO®
Greater Lansing Senior Transition & Listing Specialist
📞 517-755-8168
📧 Mike@MikeBowler.com
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