Baby boomer generation soon to impact housing market
The aging baby boomer population will have a significant impact on the nation’s housing market, as they enter their twilight years. According to a new report titled the "Demographic Challenges and Opportunities for U.S. Housing Markets" by the National Association of Realtors, the senior generation will increase to more than 30 million and swell the market with available housing.
An estimated 75 to 80 percent of these properties are expected to be taken over by the echo boom generation by 2020, reports the source. This demographic describes the 65 million people born between 1981 and 1995.
For those seniors looking for new housing options, searching on the MLS listings in Las Vegas could prove beneficial. There were 498,236 people between the ages of 50 and 64, and 324,359 who were 65 and older, according to the 2010 U.S. Census.
People older than 55 may relish taking advantage of the region’s warm weather, local amenities and the local community. There are over 57 golf courses, an estimated 13 full-service hospitals and more than 35 libraries, according to LasVegasCommunityGuide.com.