Builder confidence in the 55+ housing market showed continued improvement in the third quarter of 2013 compared to the same period a year ago, the National Association of Home Builders’ latest 55+ Housing Market Index revealed.
Meanwhile, all segments of the market — single-family homes, condominiums and multifamily rental — registered strong increases.
The single-family index escalated 14 points to a level of 50, which is the highest third-quarter number since the inception of the index in 2008 and the eighth consecutive quarter of year over year improvements.
“We have seen steady improvement in the 55+ housing sector as buyers and renters are attracted to new homes and communities that offer the lifestyle they desire” said Robert Karen, chairman of NAHB’s 50+ Housing Council and managing member of the Symphony Development Group. “Although the market is significantly stronger than it has been in recent years, we still have a ways to go to get back to full production.”