Zillow is calling it the “Silver Tsunami” in a new analysis in which they estimate that 27 percent of today’s owner-occupied homes will become available by 2037.

How did they come to this conclusion? It’s simply that as more and more of the Baby Boomer generation passes way their homes will become available. Zillow estimates that from 2017 to 2027 920,000 homes will become available annually and that between 2027 and 2038 that number will rise to 1.17 million homes annually.

This means that roughly 20 million homes will hit the market through the mid-2030s!

It’s estimated that approximately 10,000 baby boomers turn 65 and move towards retirement every day – and will be doing so until 2030. And, while they still possess a significant economic clout, boomers are adjusting their lifestyle to fit their current needs.

More often than not, this means downsizing – do they really need that 3-car garage or the large library. While the homes may be getter smaller, they’re still upscale – stocked with all the amenities and conveniences.

Finally, more retirees are now renting. In the last 13 years, rentals of family homes have increased from 9 million to well over 43 million. Many are finding they’ve had enough of ownership, the goal now is experiencing.

A new survey polling homeowners between the ages of 53 and 71 reveals that proximity to food is a prime consideration for these Baby Boomers. Proximity to a neighborhood grocery store ranks number one while the availability of nearby restaurants is listed as number two.

Keeping active is also important with nearby fitness centers and walking trails ranking high although golf courses only came in at number 49.