Is there any real way to predict when the market bottom will be hit? Statistics, graphs, and analysts theorize and study, but the bottom is not necessarily the bottom line, especially for those buyers approaching their retirement years who have enough time to watch for a deal. Anyone looking to buy with a "wait and see" attitude and has the luxury of time is at an advantage now, can sit back and go fishing with his line dropped calmly in the water. But that is just one buyer archetype. Trends are changing quickly and this glass-bottom boat is starting to resemble "Anything Goes!" No need to tread water, just get on the boat.
A recent study shows that 19% of retirement candidates are, in fact, postponing their retirement, thus highlighting the previously-noted trend of a stronger, longer workforce, even by part-timers, and thus creating a hybrid retirement community: the non-retired retirement-age mover and shaker! That retirement community is on your street and in the high-rise next to your favorite restaurant! Urban communities, suburban developments, and even rural environments continue host those with active lifestyles that would otherwise-retire in years past. Boomers are already showing themselves to be prone toward a broader retirement destination, rather than the usual communities in Florida and Arizona, with activities and modern convenience at the forefront. And young people, singles and families alike, are moving back into cities from the suburbs, with a household vocabulary that includes "efficiency," "convenience," and "low carbon."
What does this mean? The market is wide open, with trends showing a shift in market stereotypes. Buyers, at all different ages, are motivated by all different reasons, so really the bottom is transparent. See through the hype and take advantage of the less concrete buyer profiles. A little creative marketing and a refreshed view of your market just might lead you to forage new waters!