In a recent National Association of Home Builders (NAHB) 55+ survey, builder confidence in new 55+ single-family homes increased significantly in the second quarter of 2012. The survey results suggest buyers are returning to the 55+ housing market as home prices begin to improve, helping to unlock some of the pent-up demand from 55+ consumers. The report analyzes where older households are located, characteristics of communities and the overall satisfaction with them, and the types of communities that the 55+ market prefers. The report also looks at recent 55+ movers, finding out why they moved and from where, as well as other key demographic information, such as household size, education, race, and income. Also covered is an inventory of new construction, including the dollar value, basic characteristics, motivations of the buyer or renter, comparisons to the previous home, and how new home purchases are financed.
That’s good news for boomers and retirees relocating to Charlotte. North Carolina real estate is experiencing a continued uptick in sales, and with Charlotte being a popular destination for active adult seniors, the demand continues to rise.
While many 55+ mature adults, like their parents, elect to “age in place,” but a large and growing number—more than 1.2 million —are relocating to communities, such as Charlotte, that are designed to meet the needs of mature, active adults. Even more interesting news is that residents in these communities registered the highest satisfaction rates.
Design, Looks and Location Important To Seniors
Within the community, design and looks were most important to 55+ single-family home buyers. Home and community location relative to work location are important for a growing number of 55+ households.
Proximity to work as the reason for choosing a community among 55+ movers into single-family detached homes jumped from 11% in 2001 to 17% in 2007. In addition, the percentage of 55+ households working from the home rose rapidly over the six-year period. The number of movers into other 55+ owner-occupied communities rose from 6% in 2001 to 13% in 2007.
Charlotte is a Hot 55+ Market
All this good news proves one thing: Charlotte is a hot market for 55+ adults. Not that it hasn’t always been a desirable spot for retirees live out their golden years, but now it’s even more so. Demand for homes in Charlotte has increased steadily for seven months straight, and mature adults have a good share in that market.
Tribute Homes specializes in building retirement communities for active adults 55 and over in North and South Carolina. For more information, visit us at www.tributehomesusa.com or contact us at 800.381.2984.
Home builders of retirement communities also known as active adult communities are on the rise. Developments of these “unretirement” housing communities are centered around big employment centers, such as Charlotte, North Carolina, the newest energy capital of the US. This upward trend of homes for active seniors, boomers and un-retirees are evidence of older Americans working longer.