As the number of citizens over the age of 55 continues to grow, the housing opportunities for these individuals are projected to expand throughout the next eight years, according to the National Association of Home Builders. Baby boomers comprise the largest number of people living in the country at 25 percent of the population, according to CNN. As these older adults progress toward retirement, they must start searching for senior living options, whether they wish to live in independent living or assisted living facilities.
Yet, the amount of baby boomers moving into the senior population is not the only factor affecting the rising number of citizens seeking senior housing. According to Senior Housing News, independent living homes have seen an increase in their populations due to the recent housing recovery. The news source predicted that assisted living and memory care will see much growth throughout the year as older adults turn to living in these facilities. Bradley Clousing, managing director at Senior Living Investment Brokerage, told Senior Housing News that citizens will see an increase in accommodations and availability.
"We have seen the housing market continue to improve, and it seems like the backlog of residents waiting for homes to sell has certainly dwindled if not disappeared," Clousing said.