Meet the demand for aging buyers.
I recently read an article about older Americans, baby boomers in particular, which talks about their confidence in the economy and how they are having a positive affect on the housing market.
I don't feel that many builders in my area are embracing this with the communities they are currently developing. I do wish builders would pay attention to these trends.
Baby boomers are downsizing, or "rightsizing" in huge numbers. They want single level living, all the bells an whistles they had in their previous homes, convenience, no exterior maintenance and easy access to amenities. This means town-homes or patio homes for them.
Unfortunately, I see a small number of communities to meet those needs in our area. The vast majority of new construction still concentrates on two level homes, even in town-home communities. Of course there is a need for these homes, but don't ignore the needs of aging buyers. I do realize that profits may be smaller, due to single level homes taking up more space, so less units per acre
I see the need and demand for such homes frequently, but have very limited possibilities for my buyers. I strongly believe builders who would accommodate this segment of the market would be successful. As the population ages, so will the demand.
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