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Builder Confidence in the 55+ Housing Market Improves

August 15, 2013

Builder confidence in the 55+ housing market for single-family homes showed strong continued improvement in the second quarter of 2013 compared to the same period a year ago, according to the National Association of Home Builders (NAHB)

“Builders and developers for the 55+ housing sector are feeling optimistic as they are seeing more consumers return to the marketplace,” said Robert Karen, chairman of NAHB’s 50+ Housing Council and managing member of the Symphony Development Group. “With existing home prices rising, consumers are able to sell their current homes and make the move toward either purchasing a home or renting an apartment that is designed to more specifically suit their lifestyle.”

Both segments of the 55+ housing market – single-family homes and multifamily condominiums – showed growth. “The 55+ HMI (Housing Market Index) for single-family homes almost doubled from a year ago,” said David Crowe, NAHB chief economist. “Sentiment in other segments of the 55+ market housing was strong as well. This is consistent with the increase in builder confidence we’ve seen in other NAHB surveys recently. At this point, the main challenge for builders in many parts of the country is finding enough buildable lots in desirable locations and workers with the necessary skill set to respond to the increased demand.”
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