NAHB's 55+ Housing Market Index Skyrockets to New High
The National Association of Home Builders' 55+ Housing Market Index has hit a record high according to new reports. The achievement was made thanks to a strong fourth quarter to close out 2017.
"Builder confidence in the 55+ housing market for single-family homes reached a reading of 71, up from 67 from the previous year and from 59 from the previous quarter," according to National Mortgage News.
"This growth in confidence comes at a time when homeowners continue aging in place, as the national average homeownership tenure has nearly doubled to levels seen since the earliest data was recorded in 2000."
The overall housing market has seen a fair share of continuous progression. It is becoming stronger year-after-year and these numbers from the NAHB are a direct reflection of that. It's not going to end either.
"We expect continued growth in the market for new 55+ housing in 2018 due to favorable demographics, rising homeowner wealth and the current tight supply of existing homes on the market," said NAHB Chief Economist Robert Dietz in a press release, according to the report.
To learn about the record high housing market index and what the future of the market holds, click on the image above.
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