Call them mature couples, older buyers or empty-nesters. By any name, they’re driving a large segment of Washington’s real estate business.
The Washington Post says Baby Boomers, who drove the first-time-buyer-boom back in the 1980s as well as the move-up activity in the 2000s, are back to buying again. Baby Boomers were the biggest group of buyers in 2013. This time, they’re looking for low-maintenance, walkable places where they can age without worry.
People over the age of 45, mature couples and retirees over 65 all combined to account for 45 percent of buyers in the District region in 2013, the Washington Post reports.
Something both groups are looking for are walkable communities close to shops, restaurants and public transportation. That means big bucks for builders, as the buyers are often willing to pay more for smaller places in locations that offer the amenities.
New styles of homes are also catching this group’s eye. Fairfax-based Van Metre Homes tells The Post new designs geared for empty-nesters are selling well, even selling out in its Raspberry Falls development.
