Home Buyers Over 55

The NAHB’s 50+ Housing Council recently published a report on older homebuyers, Profile of the 50+ Housing Market. According to the report, more than a quarter of a million people will opt to buy new housing in communities specifically built for those ages 55 or better, and more than 100,000 units constructed in 2008 will be targeted to this growing niche market.

They found that while most buyers wanted a better home than their previous or current home, most felt the new house would cost less. They also found that most older buyers were not as adversely affected by the housing market as younger buyers because fewer than half needed to take out a mortgage.

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