The housing market has been in recovery mode over the past few years; the same has been true for the senior housing market and its various sectors. This report from Senior Housing News speaks specifically to growth in the 55+ market (i.e. active adult communities).
According to writer Jason Oliva, “During the fourth quarter of 2012 builder confidence in the 55+ housing market for single-family homes increased 10 points to a level of 28,” per the National Association of Home Builders’ latest 55+ Housing Market Index.
Multifamily condominiums and single-family homes comprise this growing market, said the article, though multifamily condos are being cited as the weakest segment of it. Even still, there were modest bumps in sales, both actual and expected, along with increased rates of “buyer traffic” for this sector.
Another highlight from the article: boomers and seniors have been “waiting for more stability in their local markets” before taking action and buying a new home, apartment or condo that fits their preferences for an active, low-maintenance retirement lifestyle. Though it’s difficult to predict exactly how the 55+ market will look in the next decade and beyond, it’s clear that there is an interest in housing options offering a fully engaged and independent way of life. Goodbye beach retirement!