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Residential developers in Sacramento see a major market in the wave of baby boomers ready to cash out and downsize to active-adult senior living, the Sacramento Bee reports.
The demographics are right to sustain the trend. About 1 million people between 53 and 71 live in the Bay Area, and a good number of them own houses in a market where median values exceed $1M.
In Sacramento County, by contrast, median home values are closer to $300K. Buyers from the Bay Area often can pay cash for Sacramento residential properties, especially for independent living senior housing.
For instance, K. Hovnanian has built Four Seasons 55-plus communities in El Dorado Hills and North Natomas. The company says sales have been strong in those developments, and the builder is planning at least one more Four Seasons project for Rancho Cordova.
