VHDA just published a market trends about how a projected shift in Virginia’s population demographics may mold the housing market in the near future:

Click here to view the full report (1 MB PDF download)

The major information I want to point out is a demographic shift that is estimated between now and 2020.  According to the report, there will be a surge in the first time homebuyers (less than 35 years of age) and empty nesters (ages 55-75).  The same report also shows a projected decline in middle age trade-up homebuyers (ages 35-55).

This could have an impact as empty nesters decide to sell thier current homes to downsize.  A decline in thier home’s target purchaser can result in a slower sale and longer time on the market.  On the other hand, an influx of younger first time buyers eager to take advantage of a market in their favor should help to stabilize home values and start a more normal real estate market cycle.

This report is definitely worth reading in full. What do you see that I haven’t mentioned?