Some investors appear to be snatching up housing in hot spots that they believe will fuel future returns from retiree clients. RealtyTrac recently released a report showing the top cities attracting real estate investment are also cities in which at least a third of the population is aged 54 or older.
“These popular retirement cities will very likely be an area of growth in the housing market over the next 15 years as Baby Boomers retire in greater numbers,” says Daren Blomquist, vice president of RealtyTrac. “The baby boomer generation started retiring in 2011, a trend that will continue at least through 2029, ensuring plenty of demand for both rentals and owner-occupant purchases in these markets for the foreseeable future.”
RealtyTrac based its rankings of hottest retirement investment real estate markets on cities that have posted the highest annual percent change in home prices as of May.
- Dunnellon, Florida
- Retirement age percentage: 38%
- Median sales price: $76,941
- Annual percent change in price: 31.42%
- Naples, Fla.
- Retirement age percentage: 44%
- Median sales price: $267,473
- Annual percent change in price: 26.79%
- Hot Springs Village, Ark.
- Retirement age percentage: 58%
- Median sales price: $170,000
- Annual percent change in price: 25.93%
- Douglassville, Pa.
- Retirement age percentage: 59%
- Median sales price: $252,000
- Annual percent change in price: 22.33%
- Sun City, Ariz.
- Retirement age percentage: 73%
- Median sales price: $113,275
- Annual percent change in price: 19.90%
- North Fort Myers, Fla.
- Retirement age percentage: 46%
- Median sales price: $84,500
- Annual percent change in price: 19.01%
- Rancho Mirage, Calif.
- Retirement age percentage: 46%
- Median sales price: $430,000
- Annual percent change in price: 16.77%
- Punta Gorda, Fla.
- Retirement age percentage: 45%
- Median sales price: $138,938
- Annual percent change in price: 16.71%
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2013/07/08/investors-target-retirement-hot-spots