Metro areas with a lower cost of living and sunny weather like Retirement Communities in Arizona will see more baby boomer homebuyers.
According to the National Association of Realtor’s metro areas across the US with a lower cost of living, adequate inventory and sunny weather will see more baby boomers moving in and buying homes for sale. Phoenix Arizona with popular retirement communities like Sun City West, Sun City Grand, and PebbleCreek is one of the top markets. Other top markets include Boise, Idaho, and Raleigh, North Carolina.
According to Lawrence Yun, NAR Chief Economist, Arizona, and Florida are attracting many baby boomers with their adequate home inventory, lower cost of living, and sunshine. An improving economy and broadly rebounding housing market is giving boomer the opportunity to sell their house and move to lifestyle rich active adult retirement communities. Some are delaying retirement but still moving to the area while remaining in the workforce as a business owner. Top 10 markets for increased activity in baby boomer home buying are predicted to be (listed in no particular order):
- Tuscan, Arizona
- Phoenix, Arizona
- Fort Meyers, Florida
- Sarasota, Florida
- Orlando, Florida
- Raleigh, North Carolina
- Boise Idaho
- Albuquerque, New Mexico
- Greensville, South Carolina
Other metro markets that have potential appeal to baby boomers for home buying include
- Tampa, Florida
- Riverside California
- McAllen, Texas
Retirement Communities in Phoenix and other metro areas can offer affordable living, lower real estate taxes, ample convenient healthcare, and a welcoming business environment. For example, parts of Sun City West and all of Sun City have no school tax which cuts real estate taxes to almost half. These communities also have hospitals and health care providers within the walls of the community. These factor along with the warm climate and lots of amenities and outdoor actives are very attractive to baby boomers.
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