Homebuilders are betting that boomers will be among the biggest buyers of new homes in the next few years. And North Texas residential communities are gearing up for the coming gray wave of residents with new neighborhoods aimed at the 55-plus crowd. These older buyers tend to have higher incomes and are more interested in a new house compared with young, first time homebuyers.
Numerous developments in the region have recently announced 55-Plus neighborhoods inside their master-planned communities. Viridian in Arlington has announced a 500-home section for 55-Plus. Union Park north of Frisco has also just announced a 55-Plus section in their development. While previous generations of aging buyers often headed to separate senior communities, the tide has turned in thought. Fewer boomer buyers want to relocate to a segregated seniors-only community in the far off 'burbs, said Dallas housing analyst Ted Wilson of residential Strategies. "There has been a complete rethinking on how to approach these buyers," Wilson said. "It used to be golf courses and millions of dollars for amenity centers. Now it's about being close to the grandkids and being part of a bigger community." 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. Wilson said a quarter of the D-FW area's population is 50 or older, and this pool of homebuyers will swell by 188,000 in the next five years. "There are amazing stats on the growth of active adults," said Wilson.
- Dallas Morning News, March 17, 2018