(Disclosure: Rose Law Group represents Lennar.)
By Foothills Focus
As Gen Z deals with significant pandemic-level rental rates, Arizona families have found Next Gen homes an alternative, leading to Lennar’s largest sales jump.
The 5-year-old company sees the Next Gen models accounting for 20% to 25% of all business.
For the first time, last summer, these numbers hit 30% to 35%, with some communities greater than 35% of all homes sold. Due to this increase, Lennar is growing the number of Next Gen homes in its communities from 20% to 25% to 30% to 40% of total homes. Most communities are seeing this shift, such as Lennar’s Mystic, Copperleaf, Warner Ranch and Asante neighborhoods.
Consumers are purchasing Next Gen homes as a space for adult children returning to the nest or if they are unable to afford a home on their own.
For many, the decision to buy this “home within a home” is more of an economic decision.
