Growing demand for housing for older Americans

As the country's baby boomer generation continues to approach retirement, their housing needs will create a growing demand for homes in 55+ communities across the Houston real estate market and the country as a whole.

In a report published by the National Association of Home Builders and the MetLife Mature Market Institute, economists say that the number of housing starts in retirement communities is expected to rise 30 percent this year and another 46 percent in 2012.

"By the year 2020, as baby boomers move into this age bracket, almost 45 percent of all U.S. households will include someone at least 55 years old," said David Crowe, NAHB's chief economist. "The number of those households seeking housing better suited to their changing needs will therefore rise dramatically."

Prices in those communities have also risen dramatically. The report says that while national home prices have struggled over the past few years, prices in age-qualified retirement communities have bounced back significantly, with an average price of $319,000.

Those prices are well above the overall national average for new homes. According to the Commerce Department, the average sales price for new homes nationwide in November was $268,700.