ORLANDO, Fla., Nov. 15 /PRNewswire/ — Like many Florida Realtors(R), Alison Anderson recognizes the state’s magnetic appeal to retirees. “Retired people come to Florida for more than just golf and warm weather,” said Anderson, a broker-associate with Amerivest Realty, Naples. “Florida provides an excellent quality of life for the money. Retirees know a bargain when they see one.”
As the aging baby boom generation moves into their retirement years, Florida remains a prime destination for active adults, according to real estate professionals around the state.
“We’re seeing signs of growing demand for homes in our market — especially from the Baby Boomers,” said Nancy Riley, a broker with Coldwell Banker Residential Real Estate in Pinellas County and 2007 president of the Florida Association of Realtors(R) (FAR). “More boomers are turning 60 every year and a substantial number are looking to buy in Florida.”
According to the U.S. Census Bureau, there are 76 million members of the baby boomers generation born between 1946 and 1964. As of 2007, the boomers range in age from 61 to 43 and comprise nearly 28 percent of the adult U.S. population. If only 5 percent of the boomers eventually retire to Florida, that alone would add 3.8 million new residents.
“We are in for a retiree boom, and we are in the right place for it,” said Patricia Osborne, a sales associate with Prudential Tropical Realty’s Port Richey office. Looking at 2006 Census statistics, Osborne said 10.6 percent of the U.S. population will reach retirement age in the next decade. “That’s nearly 32 million people who are age 55-65 right now,” she said. “Because of our weather, the cost of living and the services already in place, we will continue to attract retirees.”
Karen K. Ashley, a sales associate with Watson Realty Corp. in Jacksonville, notes that the flow of retirees benefits many different sectors of the state’s housing market, from luxury second homes to modestly priced residences.
“It’s important to avoid stereotyping today’s ‘seniors’ into one category because the needs and desires of one generation can be completely different from another,” she said. “Those born in the G.I. generation (1901-1924) may be looking more at assisted living or age-restricted communities. On the other hand, the baby boomers can be looking to simply downsize into something smaller with less maintenance, while remaining active and close to family and friends.”
The Florida Association of Realtors, the voice for real estate in Florida, provides programs, services, continuing education, research and legislative representation to its 150,000 members in 67 boards/associations. FAR’s Media Center Web site is available at http://media.floridarealtors.org.
Editor’s Note: This is the fourth in a series of articles focusing on the many long-term strengths of Florida's residential real estate market as it moves through the current cycle.
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SOURCE Florida Association of Realtors
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