NAHB forecasts continued improvement in 55+ housing market
The segment of the housing industry that caters to those home buyers and renters who are 55+ years old will continue to improve in 2013, according to industry experts at a press conference held at the National Association of Home Builders (NAHB) International Builders' Show in Las Vegas. This trend is expected to continue as the share of U.S. households age 55+ will increase significantly through 2020.
"We expect to see an increased demand for 55+ housing as more baby boomers turn 55 and seek homes and communities that offer the lifestyle they desire," said Paul Emrath, NAHB's vice president of survey and housing policy research. "NAHB is projecting that the number of housing starts in 55+ communities will increase 22 percent to 74,302 units in 2013, and another 20 percent to 89,071 in 2014."