Tag Archive for Housing Council

Market Booms Among Baby Boomer Buyers

May 12, 2014 Housing Market Comments Off on Market Booms Among Baby Boomer Buyers

The market for single-family homes among buyers 55 and older is booming, according to the most recent 55+ Housing Market Index from the National Association of Home Builders. During the first quarter of 2014, builder confidence in the market for new homes among older buyers reached its highest level ever after 10 consecutive quarters of year-over-year improvement. Steve Bomberger, chairman of NAHB’s 50+ Housing Council, said rising home prices and low mortgage rates are helping baby boomers sell their existing homes at a good price and purchase new homes more suited to their lifestyle. This trend, spurred by last year’s spike in home prices, is expected to lead to more homes being put up for sale this year, which will help slow the rate of price increases by building up the supply of homes available for purchase. Also in the report, the index’s individual components measuring current sales and expected sales both rose significantly from one year ago, while the gauge of prospective buyer traffic remained unchanged. More here.

Older Buyers Boost Builders’ Expectations

February 5, 2014 Housing Market Comments Off on Older Buyers Boost Builders’ Expectations

Recently surveyed builders expressed surging confidence in the market for newly built single-family homes among buyers age 55 and up. According to the results of the latest National Association of Home Builders 55+ Housing Market Index – which measures builders’ confidence on a scale where any number above 50 indicates more builders view conditions as good than poor – confidence in the market for single-family homes increased 20 points year-over-year to a level of 48, the highest fourth-quarter reading since the NAHB began tracking the data in 2008. Robert Karen, chairman of the NAHB’s 50+ Housing Council, said they 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 condo that fits the lifestyle they desire. Karen expects this optimism from builders and developers to carry through 2014. All individual components of the single-family HMI showed significant improvement, with confidence in present sales levels climbing 26 points from one year ago. More here.