We recently surveyed our full ERA broker and agent team and found three trends rising to the top for opportunity markets in 2016. These buyer groups and growth areas in the marketplace itself are expected to drive home sales in areas across the country.
The New Retirees: Active Adult Market Surged in 2015 – expected to continue in 2016.
As we know, Baby Boomers are hitting approaching retirement age, but don’t assume they’ll all be settling down!
- ERA professionals saw 55+ communities grow in popularity this year, as more and more Boomers want to downsize but are not willing to sacrifice their active lifestyles or proximity to family and friends.
- Given 2015’s surge, and the fact that by 2019, nearly 45% of US households will be headed by someone at least 55+, this is an opportunity market in the New Year.
Land, ho! ERA Brokers Report Increased Interest in Land and New Construction in 2015 – a good indicator for 2016’s market.
Across the country, the ERA community is seeing new construction and specific interest in land purchases in a variety of markets, including Florida, California, Utah, Georgia and New York.
- Though we typically see a gradual improvement in economic indicators this time of year related to seasonal employment, the increased confidence in land buying is accompanied by increased confidence in commercial lending and the Fed’s interest rate increase, which all mark a brighter 2015 economically and potential for 2016, as well.
First Time Home Buyers are Back!
ERA agents report first time home buyers are making a comeback in their markets. Due to home values increasing, more entry-level inventory is being created, as move-up buyers make their next move. The influx in new construction is also increasing inventory, too.
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