Report: 55+ Population to Reach 85M by 2014

Washington, DC, February 12, 2007--The National Association of Home Builders’ (NAHB) 50+ Housing Council predicts that 40 percent of all households will be headed by someone 55 or older by 2012. The 55+ population is expected to reach 85 million by 2014. The number of households in the 65-74 age bracket by itself will grow by 4.5 million between 2005 and 2014, an increase of more than 38 percent in only ten years.

Data from the report, “Profile of the 50+ Housing Market,” was released at a press conference held at the International Builders’ Show. The Profile, put together by NAHB Housing Policy Researcher Paul Emrath, analyzes U.S. Census Bureau data, provides demographic information, and forecasts housing characteristics, mobility, neighborhood attributes and other factors that will help determine demand for 50+ housing. It is available exclusively to members of the NAHB 50+ Housing Council. Seven total chapters are planned for the Profile, which will cover topics including 50+ Regional and Neighborhood Attributes, 50+ Housing Characteristics, and 50+ Household Mobility.

“Most Boomer buyers don’t need to move,” said Norman Cohen, an Atlanta-based builder and 2006 Chairman of the NAHB 50+ Housing Council. “They’ll change homes when their lifestyles change--whether it’s because they’re starting a home-based business or they just want to live maintenance-free.”

The annual 55+ estimates are generated by applying the American Housing Survey (AHS) percentages to NAHB’s forecast of housing activity for calendar year 2007.