55+ Housing Market UpdatePosted 02/17/2016
Builder confidence in the single-family 55+ housing market finished the year on a high note, according to the National Association of Homebuilders’ (NAHB) latest 55+ Housing Market Index (HMI), a monthly survey of NAHB members.
Up one point from the previous quarter, the HMI showed a fourth-quarter reading of 61, which represents the seventh consecutive quarter in which builder sentiment ranked above 50 – the watermark on the survey above which more builders view conditions as good rather than poor. NAHB Chief Economist David Crowe stated that the survey results are consistent with previous forecasting for the overall housing market, which predicted a slow and steady recovery.
According to Crowe, builders are responding to the 55+ housing market’s expansion due to growing home equity for 55+ households, an improving economic outlook, historically low mortgage rates and an increasing boomer population.
This latest HMI news also reflects Maracay Homes’ own confidence in this market segment. Maracay entered the 55+ housing market in 2014 with the development of its first-ever active-adult neighborhood, Victory at Verrado. Located inside the renowned Verrado master-planned community in Buckeye, Arizona, Victory opened to the public just over a year ago and it’s already making waves nationally for its groundbreaking Freedom Collection of homes. Maracay partnered with KTGY Architecture + Planning to develop the all-new assemblage of floor plans designed specifically for active-adult living.
Recently, floor plans within the collection took home three Gold Awards at the NAHB’s 55+ Housing Awards. The awards included Best 55+ Universal Design Home or Community, Best 55+ Detached Home 1,701-2,400 Square Feet for its Entertainer floor plan, and Best 55+ Detached Home Over 2,400 Square Feet for its Traveler floor plan.
The success of Victory is just one example of Maracay’s ability to recognize the needs of today’s homebuyers. With more than 8,000 homes built throughout Phoenix and Tucson, Maracay remains an Arizona real estate industry leader, providing Arizona homebuyers with smarter choices that serve both their lifestyle and the environment.
For more information on Maracay Homes and Victory at Verrado, please visit www.MaracayHomes.com or call Victory at Verrado New Home Specialist Pam Meyer at (480) 889-3713.
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