Age Restricted Housing Is Hot In Central Arizona

The Arizona Republic reports that Engle Homes will develop a 1,975-lot, age-restricted community in Estrella mountain Ranch called Providence The development will be built in three phases. The Southwest Valley's population is surging right along with the nation's population of baby boomers, which makes the Southwest Valley and the rest of the Metro Phoenix area a natural fit for such age-restricted communities. The National Association of Home Builders says the fastest growing segment of home buyers is the 50 plus segment, including empty-nesters, pre-retirees and older buyers. Nearly one-fifth of the nation's new homes, or 1.1 million houses, were sold across the nation to people older than 55, according to the most recent figures. Look for more adult communities to spring up across the Valley as the Baby Boomer population grows over the next ten years. More...