Baby Boomers around the country are feeling more confident in the economy, and that confidence is showing up in the Florida housing market.
The Villages is regularly highlighted at the fastest growing metro area in the entire United States by the US Census Bureau. In addition to The Villages, many other communities designed for boomers all across Florida are growing at tremendous rates.
The resurgence in the Florida housing market has been a combination of three significant factors.
Reason #1: Boomers are Optimistic About the Future
An by Barbara Nackman quoted a report from Better Homes and Gardens Real Estate that said that 70% of boomers are expecting to retire in the nicest home they have ever lived in. The quoted report also states that many of the boomers surveyed were far more confident about the economy than they were five years ago.
Nackman also points out a quote from the report that explains that making a lifestyle change is more important than downsizing for many boomers. This means that many of the boomers looking to relocate to Florida are likely to place a higher priority on available amenities than price.
Reason #2: Boomers (Still) Love Florida
Because Boomers are more focused on making lifestyle change, they tend to focus on the type of lifestyle communities that have become very popular across Florida. While The Villages is the largest of these communities, other communities like On Top of the World in Ocala and Solivita are also extremely popular.
These communities are able to offer exactly what most Baby Boomers are looking for. They include a wide variety of amenities that are directly targeted to the Boomers generation, and their location in Florida adds the appeal of sunshine and a lower overall cost of living.
Reason #3: Getting Here Is Getting Easier
Another reason for the increasing growth in the Florida housing market is that the rebound in the housing market across the rest of the country has made it easier for many Boomers to get out of their current homes. As it becomes easier for Boomers to get full value for their homes, it will then become even easier for them to relocate to communities in Florida.
With many Boomers becoming empty nesters in recent years, more and more are finding themselves with less reasons than ever to hold onto their current homes. This is making the decision to head south even easier.
The combination of a rebounding national housing market, the allure of a fantastic retirement lifestyle in Florida, and a renewed confidence about where the economy is heading has many Baby Boomers finding themselves more interested than ever in making a lifestyle change. Because of that, retirement communities across Florida are seeing a tremendous amount of growth, and the entire housing market is improving every day.