Builders Banking on Boomer Wave
Over the next few years, Baby Boomers continue to flood the housing market. Home builders in Dallas-Fort Worth are creating new communities catering to shifting Boomer housing preferences.
Dallas housing analyst Ted Wilson of Residential Strategies says, "There has been a complete rethinking on how to approach these buyers. It used to be golf courses and million of dollars for amenity centers. Now it's about being close to the grandkids and being part of a bigger community." Wilson explains to The Dallas Morning News that fewer Boomers want to be segregated into age-specific residential developments.
With the aging U.S. population, the building industry is banking on thousands of 55-plus buyers in the next decade. The industry index of potential buyers from this demographic is at an all-time high, according to the National Association of Home Builders. Boomers already make up about a third of U.S. homebuyers. And 38 percent of all homebuyers last year were 55 or older, according to the National Association of Realtors.