The state of the retirement real estate market in June 2011 is based on the following information:
• The number of retirement communities is 1,732 (up from 1,606 in June 2010).
• The average age of retirement communities is 70.5 (up from 70.2 in June 2010), this includes all Adult Community Homes as well.
• The average number of residential units per retirement community is 10,958 (up from 10,876 in June 2010).
In addition to these changes, we are adding a new category, “Nonresidential,” to the June 2011 report. The number of nonresidential homes in the market increased in the June 2011 report compared with June 2010. The average age of nonresidential homes decreased by 0.3 years to 70.5 years. The number of residential units in nonresidential homes increased from 10,958 in June 2010 to 10,958 in June 2011.
Our average sales price for residential properties decreased a lot too.
Shown in Figure 4. Although many states have improved significantly since 2011, there are still states with a large deficit. The real estate markets in the District of Columbia, Maryland, and the District of Columbia continue to be relatively strong.
Figure 4. Retirement real estate market situation in June 2011
Note: Based on state data from the National Association of Realtors’ Realtors.
Source: NAR analysis of CoreLogic data, and state data from the U.S. Census Bureau.
The real estate markets in Alaska, Alabama, Delaware, Florida, and Illinois continue to be relatively strong. There were relatively few changes in real estate prices, however, the number of homes sold also declined, by 10.9 percent, and the number of sales declined by 9.9 percent, for a 4.5 percent decrease.
In June 2011, New York was one of only three states to report a negative percentage in decades.