According to the recently published Metlife Mature Market Institute’s Housing for the 55+ Market Report, even though most Baby Boomers are choosing to “age in place,” an estimated 1.2 million households are deciding to move to active adult communities and other housing developments that meet their needs. The NAHB says by 2010 the Boomers will represent a quarter of the population, which will significantly impact the available housing market.
Data from NAHB findings has spawned a first look into mature consumer preferences, mainly what attracts them in a home, reasons for moving, and the qualities of the communities they move to. Since the data has been compiled for 7 years, it has given them a better understanding of what mature buyers are looking for in housing opportunities.
Despite the fact that most 55+ consumers prefer to keep their current home, 3%(as compared to 2.2% in 2001) will decide on communities that appeal to active adults and have a strong emphasis on lifestyle. Although most of these consumers are happy with their current homes, the report shows that the highest satisfaction rates come from those residents in active-adult communities.
The report also shows that Baby Boomers are deciding not to retire, are looking for communities closer to work, or looking for a situation that accommodates being able to work from home. People opting for a community near work jumped from 11.4% in 2001 to 16.6% in 2007.
You can download the full report here (PDF).
RSS feed for comments on this post.
TrackBack URI
