The 50+ Housing Council held a press conference at IBS to officially present The Profile of the 50+ Housing Market, a research report put together by the NAHB Housing Policy Research department, led by economist Paul Emrath. Emrath spoke at the conference, presenting data on how often and how far the 55+ population moves. Some highlights:

• Only 8.9% of buyers 55 and over who move into non-age qualified, single-family detached homes moved because they want a larger home, compared to 24% of buyers under 45.
• According to NAHB’s current economic and housing forecast, housing units sold to or occupied by 55+ households will account for more 370,000 housing starts in 2007.  
• 55+ households account for over 24% of the market for new custom homes.
• In 2004, households age 55 or older had 57 percent of the total $50.2 trillion wealth of all U.S. households. Similarly, 55+ households held $9.0 trillion in residential equity, accounting for 58 percent of the $15.6 trillion in residential equity held by all U.S. households.
• The average income of households age 55-64 is almost $100,000.
• The median income of households 55-64 is $53,000.
• One-fifth of households 55-64 have incomes of less than $25,000.
• More than 13 percent of 55+ households own a second home.

The research was bolstered by a presentation from Council member Tim McCarthy, who provided views from his perspective as managing partner of Traditions of America, an award winning active adult home builder headquartered in Philadelphia, Penn. "Armed with the financial means, people over 55 are not deterred from buying, if they have reached the stage in life where a move makes sense," he noted.

Orlando interior designer Kay Green, president of Kay Green Design, Inc., was also on the bill, and provided a lively rundown on what kinds of amenities and styles active adult buyers are looking for in new homes.

The Profile of the 50+ Housing Market is available exclusively to 50+ Housing Council members at www.nahb.org/50plusresearch. You MUST be logged in as a member to access the 50+ research section. If you don't have an NAHB PIN number, call Member Services at 800-368-5242 x0 to obtain one. [Return to top]