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Miami Herald
23-06-2025
- Business
- Miami Herald
6 of the best cities for 55+ homebuyers in 2025 and where demand is cooling
6 of the best cities for 55+ homebuyers in 2025 and where demand is cooling While millennials and first-time buyers receive a lot of attention in today's housing market, baby boomers and Gen Xers over 55 make up 25% of the U.S. population. The 55+ cohort is a powerful group in the housing market, and the ripple effects of where they live and retire will have massive implications for the economy. See More: Two Cities that are Beating Slowing Sales Trends in 2025 While many in the 55+ bracket will choose to stay in the homes they own or rent, others may consider relocating to a different metro or state, moving locally, moving into a multi-generational house, moving into assisted living, or moving into an age-restricted community. See More: 7 Differences Between What Millennials and Boomers Look for in a HomeAge-restricted communities, also known as age-qualified, active adult, or 55+, require buyers to be 55 or older to purchase. The active adult category is on the rise, and many of the largest home builders in the country are meeting growing demand in markets across the country, NewHomeSource, a new home listings site with customer reviews, More: The 2025 Housing Market: What it Means For New Home Buyers "If you are nearing retirement, or simply over the age of 55 and looking for a lower-maintenance, lifestyle-oriented community, you are not alone and builders are noticing," says Ali Wolf, chief economist for NewHomeSource. "An active adult community isn't for everyone, but if you want to live somewhere with like-minded folks, lifestyle-related activities, and age-relevant design, these kinds of communities might surprise." By analyzing Zonda data from January 2025 and using January 2019 data as comparison, the economics team identified the areas leading the charge in active adult community development. These markets have the most 55+ choices and options for potential buyers across price points, amenities, and location. The fastest-growing markets include: Atlanta: This market has added 19 new 55+ communities since 2019, bringing its total to 43 and establishing it as a hub for active adult living in the Southeast. Atlanta's location offers a busy city environment with a sense of Southern charm, a diverse culinary scene, proximity to an international airport for busy travelers, and a relatively lower cost of living than other major Port St. Lucie, and Sarasota: These three markets have added 14, 11, and 11 55+ communities since 2019, respectively. Each offers the classic sunshine and savings Florida recipe for residents as well as retirement-friendly tax structures, and beach The North Carolina market is a popular migration destination for individuals of all ages, but has not traditionally been considered a retirement hub. However, with today's 55+ buyers prioritizing factors such as walkability, affordability, and proximity to millennial children, Raleigh ticks each of those boxes. The metro has added seven 55+ communities since Similarly to Raleigh, Denver is not the first place named as a retirement destination, but it offers many of the features 55+ buyers highly value. Denver's location near the Rocky Mountains and numerous parks and trails provides ample opportunities for outdoor recreation. The city also offers relative affordability and a robust arts and culture The capital city in California has seen notable growth in the past six years, adding 10 55+ communities. The 19 55+ communities in Sacramento are the most of any West Coast market outside of Phoenix. The city's favorable climate and relative affordability compared to other California markets are benefits that may resonate with 55+ buyers. Not all markets are expanding their 55+ offerings, with several major markets experiencing declines since 2019: New York (-28) and Los Angeles/Orange County (-12): The major East and West Coast metros have seen the biggest pullbacks. The large and expensive markets may see tougher 55+ buyer competition and development might be stunted by limited land supply or home builders shifting focus away from 55+ communities based on local market Coral (-11), Phoenix (-7), and Tampa (-7): While these three markets have traditionally been popular retirement destinations, demand has cooled slightly since 2019. The pullback could also reflect local land constraints or builders shifting focus to other consumer segments in the market. The newer active adult communities in markets such as Atlanta, Jacksonville, Sacramento, and Raleigh may offer buyers more competitive pricing, newer designs and layouts, and updated amenities. Meanwhile, while Phoenix and south Florida remain strong options for the 55+ buyer, tightening supply makes it more important for buyers to research options to find the right fit. This story was produced by NewHomeSource and reviewed and distributed by Stacker. © Stacker Media, LLC.
Miami Herald
16-06-2025
- Business
- Miami Herald
Top 5 places Millennials want to live in 2025
Top 5 places Millennials want to live in 2025 When it comes to places to live, Millennials like it hot. In its most recent Millennial Survey, NewHomeSource found California is the top destination for this demographic cohort (Millennials are those born between 1980 and 2000). See More: Top 5 Priorities for Millennials When Picking a Place to Live in 2025 "This list tells us that millennials are no different than any other age group," says NewHomeSource chief economist Ali Wolf. "Good weather, quality of life, and a good labor market appeal to people of all ages. If you are looking at one of these markets, though, be prepared to pay more. These are also some of the most expensive housing markets across the country." NewHomeSource, a new home listings site with customer reviews, shares the Top five places Millennials want to live. San Diego, California Millennials are drawn to San Diego for its unbeatable combination of career opportunities, outdoor lifestyle, and vibrant culture. With a strong job market in industries like tech, biotech, and tourism, the city offers plenty of employment options, especially for young professionals. Its year-round sunshine, stunning beaches, and endless outdoor activities - like surfing, hiking, and biking - support an active, health-conscious lifestyle. The city also boasts a thriving food scene, craft breweries, and diverse nightlife, making it an exciting place to live. Additionally, San Diego's laid-back yet dynamic atmosphere, along with its growing emphasis on sustainability and innovation, makes it a highly attractive destination for millennials looking for both professional growth and a high quality of More: How Millennials are Funding Their Down Payments in 2025 New York, NY Millennials are drawn to New York City for its unparalleled career opportunities, cultural diversity, and vibrant social scene. As a global hub for finance, tech, media, fashion, and the arts, NYC offers endless networking and job prospects, making it ideal for ambitious professionals and creatives. The city's fast-paced energy, iconic landmarks, and 24/7 lifestyle create an environment where there's always something to do - from world-class restaurants and Broadway shows to pop-up events and live music. Public transportation makes it easy to explore its diverse neighborhoods, each with its own unique charm. While the cost of living is high, many millennials find the trade-off worth it for the access to opportunities, innovation, and a social scene that never More: How Dual Income, No-Kid Millennials Are Shaping Housing Trends in 2025 Denver, Colorado Millennials are drawn to Denver for its blend of urban convenience, career opportunities, and access to the outdoors. With a booming job market in industries like tech, healthcare, and renewable energy, the city offers strong professional growth while maintaining a relatively lower cost of living compared to other major metropolitan areas. Denver's proximity to the Rocky Mountains makes it a haven for outdoor enthusiasts, offering year-round activities like hiking, skiing, and biking. The city's thriving craft beer scene, diverse food options, and vibrant arts and music culture add to its appeal. With a laid-back yet innovative atmosphere, Denver provides millennials with an ideal balance of career advancement, active living, and a strong sense of community. Orange County, California Millennials are drawn to Orange County for its mix of coastal living, career opportunities, and vibrant social scene. With major employers in tech, healthcare, and entertainment, the region offers strong job prospects while maintaining a more relaxed pace compared to nearby Los Angeles. The stunning beaches, year-round sunshine, and outdoor activities like surfing, hiking, and biking promote an active lifestyle. Orange County also boasts a thriving food scene, trendy shopping destinations, and a growing arts and music culture. While the cost of living is high, many millennials find that the balance of career growth, beautiful surroundings, and a strong sense of community makes Orange County an appealing place to call home. Los Angeles, California Millennials are drawn to Los Angeles for its dynamic job market, diverse culture, and endless entertainment options. As a global hub for industries like entertainment, tech, fashion, and startups, LA offers countless career opportunities for ambitious professionals and creatives. The city's vibrant neighborhoods, world-class dining, and iconic nightlife make it an exciting place to live. With its sunny weather, proximity to beaches, hiking trails, and outdoor activities, LA supports an active and health-conscious lifestyle. While the cost of living is high, many millennials are willing to trade affordability for the city's networking potential, cultural diversity, and access to opportunities that can't be found anywhere else. This story was produced by NewHomeSource and reviewed and distributed by Stacker. © Stacker Media, LLC.
Miami Herald
13-06-2025
- Business
- Miami Herald
Here's how US tariffs may affect home prices in 2025
Here's how US tariffs may affect home prices in 2025 New tariffs are set to increase the cost of building, buying, and renovating homes-creating another barrier in an already tough housing market. NewHomeSource, a new home listings site with customer reviews, breaks down how tariffs will impact homebuyers. Why it matters: With high mortgage rates and low inventory, homebuyers are already struggling. Now, tariffs will raise prices even further. "A lot of the uncertainty [in the housing market] comes down to tariffs," says New Home Source chief economist Ali Wolf. What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%. See More: Here's How Trump's Tariffs May Affect Home Insurance Prices in 2025 Key materials affected by tariffs: Lumber: A 25% tariff on Canadian goods adds to an existing 14.5% duty, raising softwood lumber prices by nearly 40%.Concrete, cement, gypsum: About 25% of the U.S. supply is imported, mainly from Canada and and aluminum: Both materials, essential for framing and roofing, are now subject to a 25% and fixtures: Many products are sourced from China, with price increases expected. Industry experts say construction costs could rise 4% to 6%.That adds $5,000 to $20,000 to the price of a new surveyed by the National Association of Home Builders in March estimate a smaller, but still notable, $9,200 Tomalak, Zonda's principal, advisory of building products, says "including a 2.5% baseline rate [of inflation], tariffs could increase the cost of building materials by 9%." First-time buyers and those looking for affordable homes will feel it most. "We're in an environment where affordability is stretched and we don't want to be adding to any additional costs. Tariffs could play a role in making that worse," says Wolf. "The tariff impact isn't isolated to just new homes, though," adds Wolf. "If you are considering an existing home that needs to be remodeled, you might be surprised with how much money the whole project will cost." See More: How Credit Scores Are Shaping the 2025 Housing Market Differing opinions on cost increases due to tariffs The National Association of Home Builders' April Housing Market Index estimates tariffs could add $10,900 to the cost of a typical new home. However, in Zonda's Q2-2025 Housing Market Forecast, data points to the cost only rising by $5,000. Given the flux surrounding global tariffs, it's difficult to predict a static number for the coming months. Where prices are already increasing Manufacturers may continue to raise prices regardless of tariffs. Tomalak reports that the three major roofer manufacturers - Owens Corning, CertainTeed, and GAF - have already raised prices between 7% to 10% as of April 1. Will tariffs affect other areas of a new home purchase such as insurance? The short answer - probably yes. "Tariffs on imported building materials will increase the cost of rebuilding a home, which will raise home insurance premiums," says Insurify's Matt Brannon. With additional reporting from Carmen Chai. This story was produced by NewHomeSource and reviewed and distributed by Stacker. © Stacker Media, LLC.
Yahoo
13-06-2025
- Business
- Yahoo
Here's how US tariffs may affect home prices in 2025
New tariffs are set to increase the cost of building, buying, and renovating homes—creating another barrier in an already tough housing market. NewHomeSource, a new home listings site with customer reviews, breaks down how tariffs will impact homebuyers. Why it matters: With high mortgage rates and low inventory, homebuyers are already struggling. Now, tariffs will raise prices even further. 'A lot of the uncertainty [in the housing market] comes down to tariffs,' says New Home Source chief economist Ali Wolf. What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%. See More: Here's How Trump's Tariffs May Affect Home Insurance Prices in 2025 Lumber: A 25% tariff on Canadian goods adds to an existing 14.5% duty, raising softwood lumber prices by nearly 40%. Concrete, cement, gypsum: About 25% of the U.S. supply is imported, mainly from Canada and Mexico. Steel and aluminum: Both materials, essential for framing and roofing, are now subject to a 25% tariff. Appliances and fixtures: Many products are sourced from China, with price increases expected. Industry experts say construction costs could rise 4% to 6%. That adds $5,000 to $20,000 to the price of a new home. Builders surveyed by the National Association of Home Builders in March estimate a smaller, but still notable, $9,200 increase. Todd Tomalak, Zonda's principal, advisory of building products, says 'including a 2.5% baseline rate [of inflation], tariffs could increase the cost of building materials by 9%.' First-time buyers and those looking for affordable homes will feel it most. 'We're in an environment where affordability is stretched and we don't want to be adding to any additional costs. Tariffs could play a role in making that worse,' says Wolf. 'The tariff impact isn't isolated to just new homes, though,' adds Wolf. 'If you are considering an existing home that needs to be remodeled, you might be surprised with how much money the whole project will cost.' See More: How Credit Scores Are Shaping the 2025 Housing Market The National Association of Home Builders' April Housing Market Index estimates tariffs could add $10,900 to the cost of a typical new home. However, in Zonda's Q2-2025 Housing Market Forecast, data points to the cost only rising by $5,000. Given the flux surrounding global tariffs, it's difficult to predict a static number for the coming months. Where prices are already increasing Manufacturers may continue to raise prices regardless of tariffs. Tomalak reports that the three major roofer manufacturers — Owens Corning, CertainTeed, and GAF — have already raised prices between 7% to 10% as of April 1. Will tariffs affect other areas of a new home purchase such as insurance? The short answer — probably yes. 'Tariffs on imported building materials will increase the cost of rebuilding a home, which will raise home insurance premiums,' says Insurify's Matt Brannon. With additional reporting from Carmen Chai. This story was produced by NewHomeSource and reviewed and distributed by Stacker. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
SINGLE-FAMILY LOT SUPPLY LOOSENING IN MORE MARKETS
Up for the Third Consecutive Quarter; Highest Level in Five Years NEWPORT BEACH, Calif., May 8, 2025 /PRNewswire/ -- Zonda's New Home Lot Supply Index (LSI) for 1Q25 showed lot supply loosened, both year-over-year and quarter-over-quarter across the United States, notching the third consecutive increase from previous quarters. The index is a residential real estate indicator based on the number of single-family vacant developed lots and the rate at which those lots are absorbed via housing starts. The New Home LSI came in at 64.3 for 1Q25, representing a 12.1% increase from 1Q24. The 1Q25 data shows a "significantly undersupplied" market nationally. The market has been "significantly undersupplied" since 2017. On a quarter-over-quarter basis, supply increased by 5.7% from 4Q24. The LSI counts the total vacant developed lot supply and adjusts for overall starts activity. "Today's housing market is shaped by the intersection of politics, economics, affordability, and consumer sentiment," said Ali Wolf, chief economist for Zonda and NewHomeSource. "The resulting impact is a choppy market, and mixed messages on the lot supply front. Zonda's LSI in the first quarter came in at the highest level in five years thanks to slower housing starts and more cautious consumers but remained significantly undersupplied." Total upcoming lots (delivery over the next 12-18 months) for 1Q25 increased 4.7% year-over-year, and were up 6.5% from last quarter. Additionally, they were up 26.3% compared to the same quarter in 2019. "There has been a lot of money invested in land and lot development in recent years, and we are seeing the fruit of that labor show up in total upcoming lots," said Wolf. "The big question now is how aggressive builders will be in the shifting market with housing starts, new community openings, and their land acquisition plans." See the full insights and analysis on Zonda's us at upcoming Zonda events including Future Place, Oct. 27-29 and Multifamily Executive Conference, Nov. 4-6. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. About NewHomeSource (NHS) is America's #1 source for consumers as they search for new construction communities and homes. NewHomeSource also has the most extensive collection of ratings and reviews for homebuilders nationwide. As the only independent source of reviews from verified homebuyers, TrustBuilder delivers the honest insights you need to make decisions with confidence. For media inquiries or to schedule an interview with Chief Economist Ali Wolf:Contact: Diane BeginEmail: pr@ 224-836-5615 View original content to download multimedia: SOURCE NewHomeSource powered by Zonda
