Outlook for 55+ Housing Market Sets New Record

Among builders, confidence in the sector for those ages 55 and over spiked in the last three months of 2013 after trailing other market sectors in the broader real estate rebound, reports the National Association of Home Builders (NAHB). In the fourth quarter, confidence in the market segment reached its highest level ever on NAHB’s Housing Market Index. All segments, including condos and multifamily rentals, rose on an annual basis, with the index climbing 20 points to 48 on the scale — the highest reading since the gauge debuted in 2008. It also was the ninth quarter in a row of year-over-year gains. Most builders expect the momentum to continue in the months ahead. Robert Karen, chairman of the association’s 50+ Housing Council, remarks, “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. We expect this optimism from builders and developers to carry on into 2014.” | Read More