New Home Market Steady Among Older Buyers

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There’s been a lot of talk about first-time home buyers this year. That’s primarily due to the fact that, following the financial crisis, first timers were less active in the market than usual. Because of this, a lot of attention has been focused on their return and what it means for housing overall. But, according to the National Association of Home Builders’ 55+ Housing Market Index, there is positive momentum in the market among older buyers as well. In fact, the index – which measures builders’ confidence in the new home market among buyers 55 and older – remained in positive territory for the second quarter of 2015, registering a 57 on a scale where any number above 50 means more builders felt the market was good than poor. Timothy McCarthy, chairman of NAHB’s 55+ Housing Industry Council, said the index has come down a bit but it’s no cause for concern. “Although builder confidence in the 55+ housing sector is down slightly from its peak, builders are still optimistic about the market going forward,” McCarthy said. “According to our survey, one area in particular that’s improved recently is the condo market, and we expect this momentum to continue.” Among the index’s individual components, expectations for condo sales over the next six months saw the biggest gains, rising 10 points from the previous quarter. More  here.

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