Examining the delayed silver tsunami in Texas real estate as baby boomers opt to age in place rather than sell. Data and stats reveal how baby boomer home retention impacts millennial homeownership, housing market inventory shortages, and inherited property trends in 2025.
Ok Boomer. What’s the deal?
Weren’t those supply of inherited homes supposed to hit the housing market by now?
Millennials were promised that housing affordability was just around the corner.
That once baby boomers started downsizing or passing down their homes, first-time home buyers like millennials would finally get their shot at the American dream of homeownership.
Why Are There No Inherited Houses For Sale
Baby boomers were supposed to sell their properties en masse, flooding the market with affordable inherited homes for younger buyers like millennials and first-time homebuyers.
But that day hasn’t come.
The long-predicted silver wave of inherited homes — the wave of real estate expected to hit the market as baby boomers age — still hasn’t materialized.
Inherited houses aren’t showing up like experts thought they would.
And for a generation battling student loans, rising rents, and shrinking options, the delay is leaving a wave of frustrated young homebuyers. It’s directly impacting millennial housing affordability.
So… where are all the inherited homes? Let’s take a look.
Why Baby Boomers Are Not Selling Their Homes
The “silver wave” of home selling refers to the massive generational wealth transfer expected as aging baby boomers pass on trillions in real estate to their heirs.
Freddie Mac estimates over 17 trillion dollars in home equity will eventually change hands.
That should mean more homes hitting the market, right?
In theory, yes.
The reality is not yet.
A mix of economic, emotional, and legal reasons are causing the boomer generation to hold off selling their properties— keeping thousands of homes off the housing market and out of homebuyers’ reach.
Ok Boomer, We Get It — You’re Locked In With 3% Rates
Let’s talk mortgage math.
Millions of boomers either bought or refinanced during the era of historically low 3% interest rates. If they were to sell now and buy again at today’s 7%+ rates, they’d likely end up with a higher monthly payment — even if they downsized.
That’s a hard sell, especially for retirees on fixed incomes.
So boomers don’t sell houses and just stay put.
Some are not selling the family home for sentimental reasons. Others are making room for adult children or grandkids for the trend of multigenerational households.
Aging in Place Is Quietly Shifting the Housing Market Math
But there’s another factor at play and it’s a big one…the rise of aging in place.
Rather than sell houses, many boomers are choosing to stay exactly where they are.
They’re making home modifications like installing walk-in showers, adding grab bars, and updating kitchens for better accessibility—all with the goal of staying put.
The Housing Market Is Stuck, and the Data Tells You Why
The expected inventory boost from baby boomer homeowners deciding to sell? It’s just a trickle right now.
A growing number of baby boomers are choosing to age in place rather than sell their homes, and the market data backs up what buyers are feeling on the ground.
A 2024 national survey by AARP found that 78% of Americans over 60 want to “age in place” in their current homes for the long haul.
Here’s what additional data shows:
| Survey/Source | Age Group | % Want to Age in Place |
|---|---|---|
| Hartford Foundation | 65+ | 95% |
| AARP | 50+ | 75% |
| Retirement Living | 55+ | 95% |
| University of Michigan (2022) | 50–80 | 88% (important to remain at home) |
A separate study by Clever real estate reports that 61% of baby boomers currently own homes, but more than half (54%) say they never plan to sell.
An incredible stat of only 15% expect to sell within the next five years.
While demand keeps rising, boomers are holding firm.
The result?
Homes that were once expected to hit the open market through downsizing, real estate inheritance, or family transitions are simply not showing up.
In Texas and beyond, this quiet shift is removing thousands of homes from being listed on market and increasing the potential supply.
Why are boomers staying put?
- 76% say homeownership is the foundation of their financial security
- 86% believe it provides a more stable home life
- 46% say they would consider themselves failures if they didn’t own a home
And here’s the generational gap beneath the surface. Less than half of boomers needed two incomes to buy their homes, while today’s first-time buyers face steep housing prices, high mortgage interest rates, and student debt just to compete for a starter home.
The market feels stuck. And according to the desires expressed by boomers and basic housing market data, it truly is.
Why Probate Slows Down Inherited Homes in Texas
When a baby boomer passes, the house doesn’t just get listed the next week.
In Texas, most inherited homes go through probate—a legal process that handles the transfer of ownership.
Even in a relatively fast-moving state like Texas, probate can take anywhere from 6 months to over a year, especially if the estate lacks a will or has multiple heirs involved.
But paperwork is only part of the problem.
Families are grieving. Some heirs live across the country. Others can’t agree on what to do with the house—or aren’t emotionally ready to make that call.
So the property just… stalls. It might sit vacant. It might be used as a temporary rental.
In some cases, it’s left untouched for months.
Either way, that’s one less home available to alleviate Texas housing market affordability—and another reason the “silver wave” hasn’t hit the market like everyone expected.
Millennials Can’t Afford Homes
All of this has a ripple effect.
For millennials and Gen Z, the promise was simple. Wait long enough, and the boomers will eventually move on, leaving behind a silver wave of homes that younger buyers can finally afford.
But that wave never came.
With baby boomer generation deciding on aging in place and inherited homes tied up in probate or limbo, the inventory squeeze is getting worse. And it’s hitting young and first time home buyers the hardest.
Prices keep rising. Affordability staying out of reach.
And that first home? Feels more like a fantasy than a goal.
This lack of available, reasonably priced housing keeps younger buyers in the rental market longer.
Homes that were supposed to change hands aren’t moving, and it’s distorting supply and demand.
Many feel like the market is frozen — and in a lot of ways, it is.
Boomers Still Own the Biggest Homes — Even If They Don’t Need Them
If it feels like housing is out of balance, that’s because it is.
A Redfin study in 2024 revealed something shocking but maybe not surprising: Baby boomers own a disproportionate share of large homes—and most of them are no longer raising kids.
In fact, Boomers control nearly 40% of all 3+ bedroom homes in the U.S., and 28% of those are owned by empty nesters. Meanwhile, millennials with children, who actually need the space … own just 14%.
Let that sink in.
The generation that’s no longer growing their households still holds onto the most square footage.
The generation starting families?
Competing over starter homes, stretching budgets, or staying in single-family rentals.
Here’s what the data shows:
Key Insights:
- Empty nesters own 28% of Large Homes; Millennials with kids own only14%
- Despite millennials being the largest generation (28% of adults), they own half as many large homes as empty-nest baby boomers.
This is the real gridlock like trying to drive from Fort Worth to Dallas during rush hour.
Boomers aren’t downsizing.
They’re staying put, comfortably spread out in homes with three, four, even five bedrooms. And it’s not necessarily out of malice—it’s comfort, inertia, and in many cases, fear of trading a 3% mortgage for a 7% one.
But the result is undeniable: less inventory for the people who actually need it, and more frustration for Texas home buyers who are told to “just wait your turn.”
Turns out, the dream of homeownership isn’t just about saving up.
It’s about waiting for someone else to finally let go.
The Tipping Point Is Coming, Just Not on Anyone’s Timeline
Even the healthiest boomers can’t stop time. Baby boomers won’t live in their homes forever. That part is inevitable.
But the timeline for when those homes actually hit the market?
It’s slower, messier, and more unpredictable than anyone expected. Over the next 5 to 10 years, more inherited homes will begin to surface.
Not in a tidal wave.
More like a quiet, uneven release of inventory that may never show up in the usual listings.
Many of these homes will be sold privately, passed down within families, or sit in probate far longer than buyers or policymakers planned for.
That’s why it’s becoming more important for homeowners, heirs, and even first-time buyers to plan ahead.
This isn’t just a housing market cycle. It’s a generational shift in how we think about ownership, equity, and what gets passed down.
For some families, these properties will represent legacy. For others, they’ll be complicated responsibilities that need sorting.
Either way, the handoff isn’t happening quickly. And if you’re waiting for the flood of inventory to fix the housing market shortage, you might be waiting a while.
Inherited a Home in Texas and Not Sure What Comes Next?
You’re not alone.
A lot of families inherit a property and don’t know what to do with it.
Maybe it’s still going through probate.
Maybe it needs repairs you can’t take on.
Or maybe it just feels like too much to manage from out of town.
At Uncle Tex Buys Houses, we help people across Texas turn those properties into peace of mind.
We’re a local family business that understands the process, not just the paperwork. We’ve worked with families going through tough transitions, and we treat every home with the respect it deserves.
No agents. No pressure. No fixing up the house before you can move forward.
Just a fair cash offer, a clear path, and real people who care about doing right by you and your family.
If you’re ready to stop wondering what to do next, we’re ready to help.
Reach out today. Let’s talk about what works best for you.
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** About the Authors: Hilary Schultz is a licensed Texas Realtor and seasoned real estate investor with a deep understanding of how generational shifts are impacting today’s housing market. With a focus on inheritance-related property sales, Texas probate process, and off-market transactions, she helps DFW families move forward with confidence during life transitions.
As an executive board member of her local Texas PTA and an active voice in the Dallas–Fort Worth community, Hilary blends market expertise with a genuine commitment to helping families find clarity in complicated housing situations.
Patrick Schultz, her husband and business partner, brings a background in economics and over two decades of experience in real estate investment, valuation, and strategic acquisitions. Together, they’ve completed more than 2,800 real estate transactions across Texas, including hundreds involving inherited or estate-owned homes. Their mission is simple: help homeowners make informed, pressure-free decisions—especially when emotions, family, and finances are all in play. Read the online reviews for Uncle Tex to see how we’ve helped Texans just like you.