According to the National Association of Home Builders (NAHB), the 55-plus housing market is showing continued growth as baby boomers age with a projected 66 million Americans expected to be over the age of 65 by 2025. For home builders that means smaller, more appropriately sized homes in communities and neighborhoods with amenities aimed at this group are also on the upswing.
For boomers smaller, right-sized homes with a floor plan that makes single-level living possible, but with space for visiting family members and entertaining friends, is the most popular choice, according to Kevin T. Orrock, President of Summerlin®, a master-planned community in Las Vegas, Nevada developed by The Howard Hughes Corporation®. As a leader in real estate development, The Howard Hughes Corporation has recognized this trend nationally among boomers and is putting a heavy focus on this growing market segment.
“Older home owners are selling their large homes in favor of an energy-efficient, right-sized home, often in walkable communities with a wealth of opportunities for activities and social engagement,” said Orrock. “Downsizing 55-plus buyers do their research—they know what they want, and they don’t want or need to settle for less.”
In Summerlin, The Howard Hughes Corporation is responding to this trend via a growing number of active adult neighborhoods, including its two newest offerings, Regency by Toll Brothers and Trilogy® By Shea Homes.
Set on elevated terrain at the base of a dramatic ridgeline in The Cliffs, Regency offers all single-story homes in nine unique floorplans ranging from 1,665 to 2,424 square feet and priced from the $400,000s. Regency homes feature a desert contemporary architectural style to complement the rugged beauty of the area, and they include gourmet kitchens, two bedrooms, up to two-and-one-half bathrooms and expansive living spaces. Several models include indoor-outdoor living opportunities with covered patios and courtyards. Ample flex spaces create opportunities for home personalization to suit individual lifestyles.