LAS VEGAS, NV - Builder confidence in the 55+ housing market for the fourth quarter of 2013 is up, according to the National Association of Home Builders' latest 55+ Housing Market Index.
All segments of the market, including single-family homes, condominiums, and multifamily rental, registered strong increases compared to the same quarter last year. The single-family index increased 20 points to a level of 48, which is the highest fourth-quarter reading since the inception of the index in 2008.
Robert Karen, chairman of NAHB's 50+ Housing Council, attributes the continued improvement to an increase in consumers’ confidence in the economy.
"We expect this optimism from builders and developers to carry on into 2014,” Karen says.
NAHB Chief Economist David Crowe adds, "The 55+ segment of the housing market contains more discretionary purchases so as expected it has taken longer for that segment to join the housing recovery.”
The recent quarter is the ninth consecutive quarter reflecting year-over-year improvements.
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