- More incentives being offered
- More communities being built in rural and suburban areas along commute routes and hubs into cities where jobs are. (These sell fastest.)
- Builders are building smaller square footage homes--and adding a small square footage plan to existing inventories.
- Fewer over 55 communities are being built due to homeowners finding it difficult to sell their long-term homes and lowering demand for them.
- More renters because of buyer's uncertainty of the future of home ownership and economy.
- Home prices and interest rates are lower and predicted to remain low for the foreseeable future. Very strong buyer's market. But check with local Realtors.
- High end homes are selling well, however, there are fewer luxury options due to decreased demand. Into the future:
- Extreme differences in how market areas are doing--some better than others.
- The economy is further affecting the home sales market and there is talk of a double recession. Real estate sales has always been a domino effect. If the economy in cities is doing well, then the surrounding areas will do well.
- People are looking closer to home.
- The southeast and southwest continue strong due to lower home prices generally.
- More consumer interest in energy efficiency.
Thursday, November 22, 2012
Retirement Community Home Prices
Updated my Retirement Community Home Prices page -- so surprised at how many fundamental changes have occurred and are occurring in the retirement community real estate market. This page was originally written 3 years ago and needed updating. It is only in the last 2 years that things for our retirement communities have really changed. I kept the same text, just added "Update" where changes were made. Summary of Updates added: