According to the National Association of Home Builders (NAHB), the segment of the housing industry that caters to home buyers and renters 55 years old and up is expected to continue improving this year. The group gathered industry experts during January’s International Builders Show in Las Vegas to discuss this demographic. Most agreed that the share of 55+ households across the United States will continue to grow at least through the end of the decade. NAHB projects that the number of housing starts in 55+ communities will increase 22 percent in 2013 to 74,302 units and another 20 percent next year. Bob Karen, incoming chairman of NAHB’s 50+ Housing Council, states, “We are seeing more consumers overcome the inertia of waiting on the sidelines to buy a new home as they become more confident in their local market conditions.” He adds that the main reason is that potential buyers are finding they can more easily sell their existing homes.
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