Builders with excess inventory to move should concentrate on what might just be the one segment of the market with the funds to move it: “seasoned” homebuyers.
According to an NAHB study released at the International Builder’s Show this year, those buyers who are 50+ “have substantial equity in their existing homes and greater accumulated wealth," says Mark Stemen, senior vice president with K. Hovnanian's active adult division in the mid-Atlantic and a member of NAHB’s 50+ Housing Council.
These buyers are all about lifestyle – and a very active one at that – so don’t give ‘em rocking chairs on the front porch. Rather, it makes more sense – and might just mean a sale – if you give them space to park their plane, scooter or vintage Aston Martin; a marathon training group; wine tastings; and progressive dinner clubs.
(Photo credit: R. Borsanell, Stock Exchange. Thanks!)
Comments