Market data as of November 2024. For the latest numbers in your area, see my live Altos Research market report.
My acquaintance Lawrence Yun posted some stats about the next two years a while ago. I’ve updated those stats below. An interesting way to think about the next 24 months:
Think about it:
- New Beginnings:
- Births: Approximately 3.6 million per year
- Marriages: Around 3 million per year
- Life’s Transitions:
- Divorces: About 1.5 million per year
- Aging Population: 19,000 people turn 65 every day
- Deaths: Approximately 2.8 million per year
- Economic Dynamics:
- Job Growth: Potential for 4 million new jobs
- Job Mobility: Over 25 million job switches
These demographic and economic trends will likely drive the following real estate shifts:
- Increased demand for family homes from new parents and growing families.
- Potential demand for smaller homes or rental properties as older adults downsize.
- Increased demand for senior living facilities and healthcare services.
- Job mobility and economic shifts will continue to influence housing demand.
What are your thoughts on how these trends will impact the real estate market in your specific region?
Want help applying this in your brokerage? Book a 30-minute conversation with Mark at calendly.com/mjsession.
