Dive Brief:
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For the 12th consecutive quarter, the number of homebuilders who said they have confidence in the market for new homes for older adults increased during the three months that ended in September, according to the National Association of Home Builders.
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In NAHB’s 55+ Housing Market Index—a poll of single-family homebuilders—contractor confidence jumped nine points over September 2013’s level.
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The index is based on the increase in single-family home sales to seniors; expected sales over the coming six months; and foot traffic of older house hunters in model homes designed for over-55 homeowners.
Dive Insight:
Homebuilders’ confidence in their ability to sell homes designed for independent seniors seems well placed. After all, big builders like Lennar and Pulte are raking in profits on sales of in-law apartments— units intended to be shared by multiple generations of the same family.
“Demand for 55-plus housing has never been higher, and this quarter’s index clearly demonstrates that,” Delaware builder Steve Bomberger, chairman of NAHB’s 55+ Housing Council, said in an NAHB press release. “Consumers in this market are looking for a home that caters toward their specific needs, and 55-plus builders and developers are able to create homes and communities that address these needs.”