Builders confident in the 55+ sector

Single-family homes for those aged 55 and above should continue to show strong demand according to a survey of builders

Builders confident in the 55+ sector
Single-family homes for those aged 55 and above should continue to show strong demand according to a survey of builders.

The National Association of Home Builders’ 55+ Housing Market Index reveals that builder confidence reached its highest point since the index began 10 years’ ago.

The fourth quarter reading of 71 was a 12 point rise from the previous quarter and shows a record high for present sales, and strong gains for expected sales in the next 6 months and in traffic of prospective buyers.

The multifamily condo 55+ sector also gained but by a modest 3 points to an index of 54.

“Builders and developers in the 55+ housing market are reporting strong demand across the country,” said Chuck Ellison, chairman of NAHB's 55+ Housing Industry Council and Vice President-Land of Miller & Smith in McLean, Va. “However, regulations in some parts of the country can make it challenging to meet the demand.”

Gains reflect overall housing market gains
The strenght in the 55+ sector reflects the broader housing market said NAHB chief economist Robert Dietz.

“We expect continued growth in the market for new 55+ housing in 2018 due to favorable demographics, rising home owner wealth and the current tight supply of existing homes on the market,” he said.

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