New Home Market Solid Among Older Buyers

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A recent survey of builders conducted by the National Association of Home Builders shows the market for new homes among buyers age 55 and older has now experienced four consecutive quarters in positive territory. The survey – which asks builders to rank current sales, prospective buyer traffic, and sales expectations for the next six months – scores their answers on a scale where any number above 50 indicates more builders view conditions as good than poor. According to results for the first quarter of 2015, the market for new single-family homes is solidly in positive territory at 58. In fact, the component measuring present sales increased one point to 64 and the gauge of sales expectations for the next six months rose three points to 67. Timothy McCarthy, chairman of NAHB’s 50+ Housing Council, said builders remain optimistic about the outlook through the end of the year. “Builders in many parts of the country were affected by a particularly severe winter, but builders and developers in the 55+ sector continue to be positive as we move forward in 2015,” McCarthy said. “The weather had an effect on traffic, and moderated and delayed settlement schedules. Nonetheless, 55+ builders’ confidence remains bullish on the outlook for the balance of the year.” More here.

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