The market for new homes is expanding in Greenville and around the nation, fueled in a large part by the Baby Boomer generation.
Bloomberg News projects that in 2015, housing starts will increase by 15% in the United States. More and more Baby Boomers (those born between 1946 and 1964) will be purchasing homes in the next few years, and many of them will prefer new homes. This group tends to have more financial stability and wealth, and many have spent decades building a strong credit record. This means in general, Boomers will be able to afford quality homes with premium upgrades.
Southwest Florida is the top destination for many Baby Boomers, but other areas are also gaining traction with these buyers. These include:
- Albuquerque, New Mexico
- Boise, Idaho
- Denver, Colorado
- Phoenix, Arizona
- Greenville, South Carolina
- Raleigh, North Carolina
Low taxes, an affordable housing market, and a strong business environment are all attractive to Boomers—and a warm climate is also a plus. Greenville has these and is a growing market in general. We look forward to seeing more and more of these new homes in the coming years!
Source: National Builder Trade-in Program