PR Newswire
Empty-nest households that could add to inventory aren't where they're needed most
There is an oversupply of 12.8 million empty-nest homes.However, this potential supply is not located in the markets experiencing severe housing shortages.Pittsburgh, Buffalo, Cleveland, Detroit and New Orleans have the largest share of empty nest homes.The highest share of those homes are in Las Vegas, Austin, Los Angeles and Riverside.SEATTLE, Dec. 5, 2024 /PRNewswire/ -- A "silver tsunami" — an expected flood of homes from older owners who will downsize or otherwise move on — has long been discussed as having the potential to relieve the nation's shortage of housing. But new research from Zillow® shows these homes likely are located far from where they're needed most.
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