The National Association of Home Builders (NAHB) reported Thursday that the 55+ single-family Housing Market Index (HMI) showed the strongest gains since 2008, the first year numbers for this specific market were tracked. This represents the sixth consecutive quarter of improvement in this sector.
According to Robert Karen, Chairman of the National Association of Home Builders, the strong upward trend demonstrates continuing demand for homes that meet the needs of the senior homebuyer.
David Crowe, chief economist with NAHB, says builders’ confidence in the 55+ market corresponds with an overall recovery in the housing market. He goes on to say, however, “While demand for new 55+ housing has improved due to a reduced inventory of homes on the market and low interest rates, builders’ ability to respond to the demand is being limited by a shortage of labor with basic construction skills and rising prices for some building materials.”
Read more about builder confidence in 55+ communities at http://www.homechannelnews.com/article/builder-confidence-55-housing-market-grows-q1.
Laurie Denker MacNaughton [NMLS# 506562] · Reverse Mortgage Consultant, President’s Club · Middleburg Mortgage, a Division of Middleburg Bank · 20937 Ashburn Road, Suite 115 ·Ashburn, Virginia 20147 · 703-477-1183 Direct · LMacNaughton@MiddleburgBank.com · www.middleburgmortgage.com/lauriem
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