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Skyrocketing Active Adult Market May Change Builder Trends

Windsong PropertiesLooking for a new home to fit your needs and styles? Are you on the hunt for services to accommodate traveling, cooking and assistance? According to Builder Online, the need for accessible housing will increase by the year 2050 to meet the growing active adult market.

In a new Center for Housing Policy report, “Housing an Aging Population—Are We Prepared?,” the writer concludes that the United States’ housing market is not prepared for the mounting market of seniors and the current demographic trends for the future.

“The key here is designing communities with services, reaching out and forming partnerships with service providers and agencies,” said Jeffrey Lubell, executive director of the Center for Housing Policy. “The data suggest that people 85 and older are open to moving into some nontraditional housing types, such as multifamily housing with services.”

With at least half of this population spending its income on housing, meeting the demands of the expanding older population comes with its challenges. “Your standard home builder is not going to be in a position to provide these things directly, so if they want to really capture this market, they can partner with organizations that can provide those services,” said Lubell.

A challenge/solution is the growing adoption of multigenerational households. According to the report, currently only 4.4 percent of households have three or more generations living under one roof. However, this model is growing. For instance, between 2000 and 2010, there was a 21 percent increase of multigenerational households.

Another solution to accommodate this booming population is to make flexible floor plans to meet the needs of the families. “It’s not that traditional families won’t be there. Really what we have going forward is a much more diverse housing market where there will be more demand for housing near transit centers and where older adults can get what they need without getting in a car or even getting on mass transit,” Lubell said. “The population is changing, and traditional homes might be harder to sell in some markets.”

To search for your Atlanta new home, visit Atlanta Real Estate Forum.

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