Dive Brief:
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More than half of new homebuyers will be older than 55 within five years, and there are not enough homes to go around, a study from Epcon Franchising and Metrostudy revealed last week.
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Ten major metropolitan areas will suffer the most severe shortages of housing for Baby Boomers, including: Dallas-Fort Worth; Houston; District of Columbia; Atlanta; Miami; Denver; Seattle; Phoenix; Austin; and Minneapolis-St.Paul.
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The top 15 states for active-adult homebuyers, according to the study, are the same ones that are fueling the new home market: Washington, Oregon, Arizona, Colorado, Oklahoma, Texas, Florida, Georgia, South Carolina, Tennessee, North Carolina, Virginia, Ohio, Indiana, and Minnesota.
Dive Insight:
Approximately 260,000 Boomers could be unable to move to their retirement destination of choice because they won’t be able to find homes there, the study notes.