Monday, Nov. 11 is Veterans Day, and the NAHB federation salutes the sacrifices made by our nation’s military heroes as they risk their lives to preserve the freedoms we enjoy as American citizens.
NAHB’s members and HBAs around the country are making sure that these military heroes have homes to come back to by working with military support groups such as Homes for Our Troops, Operation Finally Home, theMilitary Warriors Support Foundation, Operation Coming Home and other organizations. They are helping these military heroes realize their own American Dream of homeownership by renovating, building and donating accessible homes designed specifically for the needs of a combat veteran. Two new videos show how NAHB members provide homes for injured veterans and how the Building Systems Council provided one veteran with a mortgage-free home. Contact: Gwyn Donohue (800-368-5242 x8447).
Builder Confidence in the 55+ Market Continues to Improve
Builder confidence in the 55+ housing market showed continued improvement in the third quarter of 2013 compared to the same quarter of last year, according to the most recent NAHB 55+ Housing Market Index (HMI) analysis, which was released on Nov. 7. All segments of the market – single-family homes, multifamily condos and multifamily rental – recorded strong increases.
There are separate 55+ HMIs for two of the three market segments. Each 55+ HMI measures builder sentiment based on a survey that asks if current sales, traffic of prospective buyers and anticipated sales for the next six months are good, fair or poor. An index number below 50 indicates that more builders view conditions as poor than good.
The single-family 55+ HMI increased 14 points to a level of 50, the highest third-quarter number since the inception of the index in 2008 and the eighth consecutive quarter of year over year improvements. The multifamily condo 55+ HMI rose 14 points to 37, also the highest level since the inception of the index. Additionally, all of the 55+ multifamily rental components showed strong gains in the third quarter.
“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.”
According to NAHB Chief Economist Dave Crowe, “right now, the positive year over year increase in confidence by builders for the 55+ market is tracking right along with other segments of the home building industry. And like other segments of the industry, the 55+ market is improving in part because consumers are more likely to be able to sell their current homes, which allows them to buy a new home or move into an apartment that suits their specific needs.
Today’s photos are those of Archival Designs‘ Luxury Estate Plan, Essex House.
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