Builder Confidence in Senior Market Surges
Washington, DC, Feb. 5, 2014 -- Builder confidence in the 55+ housing market for the fourth quarter was up sharply, according to the National Association of Home Builders 55+ Housing Market Index.
All segments of the market, including single-family homes, condominiums and multifamily rental, registered strong increases compared to the same quarter a year ago.
The single-family index increased 20 points to a level of 48, which is the highest fourth-quarter reading since the inception of the index in 2008 and the ninth consecutive quarter of year over year improvements.
“We are seeing continued improvement in the 55+ housing market because consumers have gained confidence in the economy and are able to sell their current homes and move into a new home or an apartment that fits the lifestyle they desire,” said Robert Karen, chairman of NAHB’s 50+ Housing Council and managing member of the Symphony Development Group.
“We expect this optimism from builders and developers to carry on into 2014.”