Baby Boomers remain a critical piece of the housing market puzzle. Americans over the age of 55 make up a quarter of the population and control about two-thirds of the single-family homes in the nation. Sixty-five year olds who purchase a home 35 years ago now tend to have value that is likely 3.5 times the purchase price.

Nearly a quarter of baby boomers recently surveyed by Freddie Mac say they need major renovations in their current home - and many say they face financial constraints to take on those remodels. As a result, about 18 million homeowners over the age of 55 may be shopping for another home in the next few years, according to the Insights Report.

Unlike earlier generations, however, baby boomer's main reasons to move aren't due to downsizing. Instead. the survey showed the key influences making these generations move are: Affordability, the need for retirement amenities and a home with less maintenance. Bottom line: The 55-plus population is likely to be an active part of the housing economy for many years to come.