Drees Custom Homes
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From McKinney to Arlington to Frisco — some of the newest housing communities in North Texas aren’t targeting millennial or first-time buyers.
Instead these new residential enclaves are aimed at what’s called "active adults" — the polite way to describe aging baby boomers if you are in the building bidness.
Of course these new age-restricted communities are responding to demographic shifts that mean more wealthier, older homebuyers are in the market to move.
In Dallas-Fort Worth, a lot of these older buyers are transplants, moving to the area to be close to children and grandchildren.
A full quarter of baby boomers say they plan to relocate to be nearer their children’s’ families, even if it’s out of state, according to a new study by housing analyst Meyers Research.
And Dallas is one of the top markets for these so-called "baby chasers," according to Meyers’ analysts.
Charlotte, Austin, Raleigh and Nashville are also cities seeing moves by older folks who are relocating to be near their kids and grandkids, the research firm found.
That makes sense since Dallas and all those other markets are attracting thousands of young workers to fill new jobs. And in many cases, mom and pop follow along.
"What differentiates the boomer buyer from their parents’ retirement process is that the boomer is moving to, not away, from the kids," Meyers senior managing principal Tim Sullivan said in the new report.
And unlike millennials who are scraping together cash for a first home, these older buyers have more money and experience from the sale of a previous home.
No wonder builders including Del Webb, David Weekley and Drees Custom Homes are rolling out new housing product tailored for older buyers.
The boomers are the second-largest group of homebuyers in the market after the millennials. And unlike the youngsters who often put off a purchase, the clock is ticking for their elders to make a move.
Dallas is one of the country’s top markets for baby boomers moving to be closer to children and grand kids.