Market Opportunity Grows as Gen Xers Come of Age
Del Webb is extending its leadership position serving active-adult buyers with 10 new Del Webb communities planned to open over the next 18 months, including its newest development Del Webb Chauncy Lake, serving the greater Boston area. A national brand of PulteGroup, Inc. (PHM), Del Webb is the nation’s leading builder of active adult communities designed to serve the needs of those aged 55 and older.
“Del Webb is the recognized leader in developing highly-amenitized communities offering an unmatched active lifestyle,” said Ryan Marshall, PulteGroup president and CEO. “For the past few decades, Del Webb communities have been focused on meeting the needs of baby boomers, but with the oldest Gen Xers now turning 55, the market opportunity is not only expanding, but evolving.”
Always working to stay in tune with changing consumer wants and needs, Del Webb has been surveying active-adult buyers for more than 20 years. The 2019 edition is the first Del Webb survey to segment the views of younger baby boomers and Gen Xers approaching the age of 55 on topics ranging from retirement and finances to health and dating. Survey results show the two groups have more similarities than might be expected, including approximately 50 percent of both generations saying they feel five to 10 years - or more - younger than their actual age, making them ideal consumers for the active lifestyle of Del Webb communities.
Reflecting this broad consumer appeal, the newest Del Webb communities are planned for all regions of the country, in more urban and suburban locations, from New England, New Jersey and Minnesota, to the Mid-Atlantic, Florida, Texas and Nevada. New community designs offer a mix of traditional ‘destination style’ resort communities, typically 500 to 1,000 homes, as well as more intimate, urban-focused Del Webb developments that meet the needs of buyers with different lifestyle priorities.
Del Webb’s 2019 survey reveals that, while retirement is still one of the biggest drivers of home purchase decisions for those ages 50-65, it’s far from the only factor. With more Del Webb residents still working, many of today’s buyers are motivated by a desire to move to a new location, embrace a different lifestyle, and/or relocate to a warmer climate, while others may want to remain in the same general area.
“Retirement is still a key milestone, but an estimated 25 percent of Del Webb residents are still working in some capacity, including nearly 10 percent who say they are currently working full time,” said Marshall. “This is especially true in more urban Del Webb communities where a higher percentage of residents are still active participants in the workforce, but wanted their home to be in a community that offers instant connectivity with people at the same stage of life.”
New Del Webb communities will also feature the latest architectural designs and smart-home technologies that appeal to today’s active-adult buyer. Incorporating extensive qualitative and quantitative research and testing, a recently completed top-to-bottom refresh of active adult floorplans will be introduced in Del Webb’s new eTown community in Jacksonville, FL, expected to open this summer.
The ten new Del Webb communities and their expected opening dates:
- Del Webb Chauncy Lake, Westborough, MA, Summer 2019
- Bellwether by Del Webb, Corcoran, MN, Summer 2019
- Del Webb eTown, Jacksonville, FL, Summer 2019
- Del Webb Nocatee, Ponte Vedra, FL, Fall 2019
- Del Webb Sunbridge, St. Cloud, FL, Fall 2019
- Del Webb at Florham Park, Florham Park, NJ, Fall 2019
- Del Webb Lake Las Vegas, Las Vegas, NV, Fall 2019
- Carter’s Mill, Haymarket, VA, Winter 2020
- Del Webb Oasis, Orlando, FL, Spring 2020
- Del Webb Carolina Gardens, Fuquay-Varina, NC, Summer 2020
About the Survey
This survey was conducted in January 2019 by MKM Partners, on behalf of PulteGroup, Inc., targeting a balanced mix of 2,003 women (52%) and men (48%) across the U.S. and between the ages of 49-51 and 59-61 to quantify key insights and other important lifestyle trends and opinions about working, retirement, family/friends and other sentiments about their lives.
About Del Webb
Del Webb is a national brand of PulteGroup, Inc. (PHM). Del Webb is the pioneer in active adult communities and America’s leading builder of new homes targeted to pre-retirement and retiring boomers. Del Webb builds consumer inspired homes and communities for active adults ages 55+ who want to continue to explore, grow and learn, socially, physically and intellectually as they look forward to retirement. For more information on Del Webb, visit www.delwebb.com.
About PulteGroup, Inc.
PulteGroup, Inc. (PHM), based in Atlanta, is one of America’s largest homebuilding companies with operations in approximately 50 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup conducts extensive research to provide homebuyers with innovative solutions and consumer inspired homes and communities to make lives better.
For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroupinc.com; www.pulte.com; www.centex.com; www.delwebb.com; www.divosta.com and ww.jwhomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.