Builders More Confident in Senior Market
Washington, DC, Nov. 8, 2013 -- Builder confidence in the senior housing market showed continued improvement in the third quarter compared to the same period a year ago, according to the National Association of Home Builders’ latest index.
All segments of the market, including single-family homes, condominiums and multifamily rental—registered strong increases.
The single-family index increased 14 points to a level of 50, which is the highest third-quarter number since the inception of the index in 2008 and the eighth 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 and communities that offer the lifestyle they desire” said Robert Karen, chairman of NAHB’s 50+ Housing Council.
All of the components of the 55+ single-family HMI showed considerable growth from a year ago: present sales climbed 16 points to 52, expected sales for the next six months rose 11 points to 53 and traffic of prospective buyers increased 10 points to 43.
“Right now the positive year over year increase in confidence by builders for the 55+ market is tracking right along with other segments of the home building industry,” said NAHB Chief Economist David Crowe.