Inferences about a Summer Festival

As the sun set over the horizon, painting the sky in hues of orange and pink, the town's annual summer festival began to take shape. Families stepped out from their homes, children laughing and tugging at their parents' sleeves, eager to enjoy the festivities. Stalls filled with vibrant decorations lined the streets, offering handmade crafts, baked goods, and local produce. A small stage was set up in the town square, where local musicians prepared to entertain the crowd. While the atmosphere brimmed with excitement, a few older residents exchanged glances, their expressions hinting at nostalgia as they recalled similar festivals from their youth.

What can be inferred about the annual summer festival based on the passage?