The study, by Washington, D.C.-based real estate research firm CoStar Group, looked at data from 17 major real estate markets. CoStar found that over the past seven years, 80 percent of people 55 and older who’ve moved to another home stayed within their county or state.
As a result, a rising number of boomer retirees will demand more housing in Chicago, New York and other big northern cities, CoStar projects.
“Most people retire in the same metropolitan area. You don’t see the migration of snowbirds you would expect to see to the Sun Belt,” said Hans Nordby, a CoStar economist who conducted the analysis.
Source: AARP Retirement
More Boomers Aging in Place, Not Retiring in the South
