Builder Confidence Grows in Senior Housing

Washington, DC, Aug. 7, 2014 -- Builder confidence in the single-family senior housing market for the second quarter is up year over year, according to the National Association of Home Builders.

Compared to the second quarter of 2013, the single-family index increased three points to a level of 56, which is the highest second-quarter reading since the inception of the index in 2008 and the 11th consecutive quarter of year over year improvements.

“We have seen steady improvement in the 55+ housing sector as buyers and renters are attracted to new homes that offer many of the luxuries and conveniences they desire,” said Steve Bomberger, chairman of NAHB’s 50+ Housing Council.

“55+ buyers are very selective and have high expectations, and new construction can meet their needs and discerning tastes.”

An index number below 50 indicates that more builders view conditions as poor than good.

Two of the components of the 55+ single-family HMI posted increases from a year ago: present sales climbed seven points to 61 and expected sales for the next six months rose one point to 61. Meanwhile, traffic of prospective buyers dropped six points to 42.

Although the 55+ multifamily condo HMI dipped five points to 38, it is still the second highest reading for the second quarter since the inception of the index. All three components of the index decreased for the second quarter: present sales dropped five points to 39, expected sales for the next six months fell four points to 42 and traffic of prospective buyers dropped three points to 35.

“One of the factors contributing to the positive signs in the 55+ housing market is the slow but steady increase in existing home sales in the last three months,” said NAHB Chief Economist David Crowe.

“The 55+ market is strongly driven by consumers being able to sell their existing homes at a favorable price in order to buy or rent in a 55+ community.”



Other Archived Articles

Leading Economic Indicators Tick Higher in January   Full Article
New York, NY, Feb. 19, 2015 -- Leading U.S. economic indicators edged up 0.2% in January, according to the Conference Board.

Philadelphia Manufacturing Grows at Slower Rate   Full Article
Philadelphia, PA, Feb. 19, 2015 -- Manufacturing in the Philadelphia region grew at the slowest pace in 12 months in February, according to the Federal Reserve Bank of Philadelphia.

Home Affordability Improves in Fourth Quarter   Full Article
Washington, DC, Feb. 19, 2015 -- Slightly lower interest rates and home prices in markets across the country contributed to a slight increase in nationwide housing affordability in the fourth quarter.

Initial Jobless Claims Back Under 300,000   Full Article
Washington, DC, Feb. 19, 2015 -- Initial claims for unemployment benefits fell by 21,000 to a seasonally adjusted 283,000 in the week ended Feb. 14, the Labor Department said.

Low Downpayment Mortgage Fails to Lure Buyers   Full Article
Irvine, CA, Feb. 19, 2015 -- The 3% downpayment mortgage wasn't very popular last year, according to real estate tracking firm RealtyTrac.

Interface Reports Higher Income, Sales in Quarter   Full Article
Atlanta, GA, Feb. 19, 2015 -- Interface, Inc. reported fourth quarter net income of $15.8 million, or $0.24 per share, compared to net income of $13.0 million, or $0.20 per share, a year ago.

Armstrong Develops Web-Based Tool for Retailers   Full Article
Lancaster, PA, Feb. 18, 2015 -- Armstrong Floor Products has rolled out what it calls an Advertising & Promotion Center.

Distributor Haines Names Two Vice Presidents   Full Article
Glen Burnie, MD, Feb. 18, 2015 -– Distributor Haines has named Mike Barrett vice president of operations and Bill Rothenbach vice president of human resources.

Producer Prices Tumble on Lower Energy Costs   Full Article
Washington, DC, Feb. 18, 2015 -- Producer prices declined 0.8% in January largely due to falling energy prices, according to the Labor Department.

Housing Starts, Permits Dip in January   Full Article
Washington, DC, Feb. 18, 2015 -- Residential construction starts declined 2% in January to an annual rate of 1.07 million units, according to the Commerce Department.

Dixie Group Reports Loss on Higher Sales   Full Article
Chattanooga, TN, Feb. 18, 2015 -- The Dixie Group, Inc. reported a fourth quarter net loss of $5.2 million, compared to a profit of $1.59 million a year ago.

Mortgage Applications Decline on Higher Rates   Full Article
Washington, DC, Feb. 18, 2015 -- Mortgage application volume plunged last week as interest rose to their highest level this year, according to the Mortgage Bankers Association.

Fuse Alliance Adds Two Members   Full Article
Laguna Niguel, CA, Feb. 18, 2015 -- Fuse Alliance said it has added two new dealer partners in the U.S.

Architecture Billings Contract Slightly in January   Full Article
Washington, DC, Feb. 18, 2015 -- Following a nine-month stretch of positive billings, the Architecture Billings Index showed no increase in design activity in January.

Heavy Snow Dampens Builder Confidence   Full Article
Washington, DC, Feb. 17, 2015 -- Homebuilder confidence fell slightly in February due largely to heavy snow in much of the country, according to the National Association of Home Builders.

New York Manufacturing Expansion Slows   Full Article
New York, NY, Feb. 17, 2015 -- The New York Federal Reserve’s manufacturing index showed that conditions improved at slower rate in February.

NWFA Offers Discounts Through CCA Global Division   Full Article
St. Louis, MO, Feb. 17, 2015 -- The National Wood Flooring Association has announced its new Business Marketplace program, in partnership with BizUnite, to provide members discounts in many business operations.

Surfaces Exhibitors Donate Flooring from Show   Full Article
Las Vegas, NV, Feb. 17, 2015 -- Exhibitors at Surfaces last month committed to donating 140,765 pounds of used flooring to the Mountain Re-Source Center.

Floors and More Wins Chamber Award   Full Article
Benton, AR, Feb. 16, 2015 -- Floors and More recently won a 2014 Small Business Award from the Bryant chamber of commerce.

Patent Board Rules for Tandus in Dispute with Interface   Full Article
New York, NY, Feb. 16, 2015 -- The Patent Trial and Appeal Board has ruled in favor of Tandus Flooring in a dispute with Interface regarding a patent on an installation system, according to Law 360.