Home builders more confident in consumers approaching retirement

As the housing market continues to gain momentum, builder confidence in older demographics increased significantly in the second quarter.

As the housing market continues to gain momentum, builder confidence in older demographics increased significantly in the second quarter.

During the three-month period, the confidence level in the 55-plus age group rose to a mark of 29 out of 100, according to a report from the National Association of Home Builders. This was an increase from a score of just 13 a year earlier.

The confidence level is based on current sales, prospective buyer traffic, and potential transactions in the next six months. 

"As the share of 55-plus households continues to grow in all regions across the country, we have a unique opportunity to create communities that address specific needs of the mature homebuyer," said NAHB housing council chairman W. Don Whyte.

With fixed mortgage rates hovering near all-time lows, older buyers, as well as others, may be able to find a number of affordable options to purchase homes for retirement. Specifically, at the beginning of August, 30-year FRMs increased slightly to an average 3.59 percent, according to Freddie Mac. Meanwhile, after a marginal gain, 15-year FRMs averaged 2.84 percent.



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