Demographics Drive Housing Market

by RaeAnne Marsh


©Maracay Homes

Lifestyle-inspired design change is the approach Maracay Homes is taking to make its new homes stand out in the re-emerging housing market. Among the features in its Arizona Collection are an “owner’s entry” from the garage, with cubbies for personal items and a technology station for docking electronic devices, that displaces the laundry room to a new location behind the master closet, and outdoor living rooms that expand everyday living space beyond the four walls. These homes, whose low $200,000s starting price puts them in range for first-time homebuyers, are debuting in several new communities around the Valley this year.

Demographics dictate for other homebuilders, as the rebounding of the Valley’s housing market is showing strength at opposite ends of the spectrum.

Communities from Vi and Plaza Companies — Vi at Silverstone and Vi at Grayhawk, both in Scottsdale — target those aged 70 and older, a demographic gaining steadily increasing interest from builders and developers, according to a new report from the National Association of Home Builders. The communities offer different types of housing to serve residents as their needs change — traditional single-family homes, assisted-living residences and a skilled nursing home.

Looking to younger families, Texas homebuilder Gehan Homes is opening its first community in Arizona, Hacienda at Greer Ranch, in Surprise. This introduces Gehan’s new series of homes targeting the move-up homebuyer. “Our opening in Greer Ranch is a vote of confidence in the Phoenix market, which has clearly rebounded and where we see positive signs for the longer-term health of the housing market,” says Tim Gehan, CEO of Gehan Homes. The homebuilder will build in three additional communities Valley-wide this year.

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