ATLANTA--(BUSINESS WIRE)--
A recent survey by Del Webb, America’s leading builder of active adult
communities, of men and women aged 50 and 60 finds that younger baby
boomers and older Generation X are not planning to downsize with their
next move. According to the survey, of the 57 percent of respondents who
say they plan to move in the future, 65 percent prefer their next home
to be either the same size (43 percent) or larger (22 percent) than
their current home.
The expectation of needing more space in their next home can also be
seen in the clear majority (71 percent) of respondents planning to move
who prefer a single-family home and those indicating they want three or
more bedrooms (63 percent). For Gen Xers, more space is not so much a
luxury, but a necessity, as 29 percent of the 50-year olds surveyed said
they would design their next home to accommodate their aging parents.
“Rather than staying put, today’s 50- and 60-year olds are thinking
ahead to their next big move,” said Jay Mason, vice president of market
intelligence for PulteGroup, the nation’s third largest homebuilder and
owner of the Del Webb brand. “While millennials seem to make the
headlines, there are over 140 million Generation X and baby boomers in
the United States, many with the means, confidence and desire to stay
active in the housing market.”
Contrary to other forecasts, those surveyed are not seeking urban
locations. Rather, an overwhelming percentage of those surveyed who plan
to make a move want to stay away from the city, with 87 percent
preferring a suburban or rural setting for their next home. When asked
for their preference, 60 percent noted they wanted their next home to be
a “quiet, tranquil place where they can slow down and get some peace.”
“There has been an increased focus on where people want to move as they
near retirement and if city living would become the preferred choice,”
said Mason. “Data from our most recent survey clearly indicates that
true urban living appeals to only a limited number of future retirees
and that regardless of generation, both Gen Xers and baby boomers
nearing retirement are looking for a different quality of life when
considering their next move.”
BACK TO TRADITION?
Inside the home, the majority of respondents still prefer open floor
plans, but some shifts toward a more traditional layout may be brewing.
For example, 34 percent of respondents said they prefer more defined
space to open concepts, and 60 percent of Gen Xers and 48 percent of
baby boomers say they still want a dedicated dining room in their next
home.
“To maintain our position as the industry leader in developing
communities for active adults age 55 and older, we have been surveying
this demographic for more than 20 years,” said Mason. “This is our first
survey directly comparing responses of younger boomers and the front of
the upcoming Gen X generation, and its results reveal a number of
similarities between these two demographics.”
In response to changing buyer trends, Del Webb has expanded its market
presence over the past decade by offering more communities across more
markets. Typically ranging in size from 500 to 1,000 homes, these
communities provide an array of signature lifestyle amenities and
activities to support body, mind and spirit. Del Webb recently announced
plans for 10 new communities in areas ranging from Massachusetts, New
Jersey and Florida to North Carolina, Minnesota and Nevada.
About the Survey
This survey was conducted in January 2019 by MKM Partners Quantitative
Survey Group, on behalf of PulteGroup, targeting a balanced mix of 2,003
women (52%) and men (48%) across the U.S. and between the ages of 49-51
and 59-61 to quantify key insights, lifestyle trends and opinions about
working, retirement, family/friends and other aspects of their lives.
About Del Webb
Del Webb is a national brand of PulteGroup, Inc. (NYSE: PHM). Del Webb
is the pioneer in active adult communities and America’s leading builder
of new homes targeted to pre-retirement and retiring boomers. Del Webb
builds consumer inspired homes and communities for active adults ages
55+ who want to continue to explore, grow and learn, socially,
physically and intellectually as they look forward to retirement. For
more information on Del Webb, visit www.delwebb.com.
About PulteGroup, Inc.
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of
America’s largest homebuilding companies with operations in
approximately 50 markets throughout the country. Through its brand
portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes and
John Wieland Homes and Neighborhoods, the company is one of the
industry’s most versatile homebuilders able to meet the needs of
multiple buyer groups and respond to changing consumer demand.
PulteGroup conducts extensive research to provide homebuyers with
innovative solutions and consumer inspired homes and communities to make
lives better.
For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroupinc.com;
www.pulte.com;
www.centex.com;
www.delwebb.com;
www.divosta.comwww.jwhomes.com. Follow
PulteGroup, Inc. on Twitter: @PulteGroupNews.
View source version on businesswire.com:
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Julia Ostlund
414-635-2725
julia@reputationpartners.com
Macey
Kessler
404-978-6414
Macey.Kessler@PulteGroup.com
Source: PulteGroup, Inc.