seniors

Are you 55 or older? Homebuilders are banking on you. With a quarter of the U.S. population expected to move into that age bracket by 2014, older Americans are expected to make up a large part of the home buying population in coming years.  “We believe this segment of the market is going to lead the housing industry toward recovery as the market turns around,” Sharon Dworkin Bell, a senior staff vice president of the National Association of Home Builders, said at the organization’s annual conference in Las Vegas.

 What kinds of features are older buyers looking for in a home? Three-quarters of them would like to live in the suburbs. They also want modest-size homes. “The 55-plus buyers are not interested in growing their house size,” David Crowe, the builders association economist told the Dallas Morning News . “They are asking for about a 1,900-square-foot home. They also are looking to keep costs low. “When we asked the consumer, ‘What are you willing to pay?’ they said $190,000,” Crowe said. Pulte is one of several home builders capitalizing on the trend locally with its Del Webb Frisco Lakes Community.