Epcon Communities data points to turnaround in active adult market

The long-awaited turnaround in the housing market may finally be underway, at least in the active adult segment, if data provided by Epcon Communities are any indication.

Epcon Communities, a home building and land development franchise operator based in Dublin, Ohio, has released data that show a significant uptick in home building and home buying activity in recent months, and even greater growth since the beginning of 2012 alone.

Inquiries into becoming an Epcon Communities franchise builder began to accelerate in July 2011, with an even greater spike beginning in October of last year and carrying through to the first three months of 2012. Whereas the number of first quarter inquiries was five and 11 in 2010 and 2011 respectively, Epcon has already received more than 30 requests from potential franchisees in the first three months of 2012.

Already in 2012, Epcon Communities has initiated or executed more new franchise agreements in the first quarter than the company had in the entire three years prior, combined.

On the demand side of the equation, Epcon’s builder partners have more new home communities pending or under construction in the first quarter of 2012 alone than they started in the entirety of the three previous years; this indicates that builders are moving quickly to serve a loosening, more motivated buying market.

Home sales at Epcon have increased nearly 230 percent in the first quarter of 2012, compared to the first quarter of 2011.

“Though the economic slowdown tamped down some of the buying enthusiasm in 2009, this pent-up demand could not be staved off forever,” said Nanette Overly, vice president of sales and marketing for Epcon Communities. “Now we are seeing baby boomers, empty nesters and other active adults determining that now is the time to downsize, right-size or simply unencumber themselves from the expense and upkeep of the house they’ve maintained for years.”

Epcon’s attached and detached condominium communities feature amenities — such as walking and biking paths, zero-entry universal design, community gathering clubhouses, outdoor courtyards, exercise facilities, bonus suites and maintenance-free living — that are of particular appeal to baby boomers and young professionals alike.

Year-to-date franchise opportunity inquiries are up more than 250 percent since last year, and new franchise agreements and pending communities are each also up more than 200 percent year-over-year. Looking at these leading indicators, Epcon is confident that this prolonged increase in both interest and activity suggest a trend rather than a blip — in building and buying activity alike.