Growth of the 55+ housing market
With an impressive growth in recent years, the 55-plus housing market is one to watch according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI), released in February.
Builder confidence in the 55-plus housing market ended the fourth quarter of 2016 on a record high according to the Index.
The separate HMIs include two segments of the 55-plus housing market –single-family homes and multifamily condominiums. Each HMI measures builder perceptions in current sales, prospective buyer traffic and anticipated sales over the next six months.
At the NAHB International Builders’ Show in Orlando earlier this year, an evaluation of this data provided building industry professionals insight about individual markets around the country, and how these regions are accommodating this ever-evolving market segment.
As the 55-plus baby boomer generation – those demographically born between 1946 and 1964 – continues to age, many are choosing to sell their larger family homes and seeking one that is the “right-size” for their future.
They are interested in home design features like single-level living, energy-efficiency, space for visiting family, and larger, modern kitchen spaces for entertaining guests. Outside, these active boomers are seeking a home free from yard and landscaping care and walkable communities with engaging activities and like-minded neighbors.
Let the professionals at United Landmark Associates partner with you to tap into the buying potential of this ever-expanding market by contacting us today.