Baby Boomer Home Sales Disappoint

The latest Housing Market Index from the National Association of Home Builders (NAHB) estimates that sales of single-family homes to persons older than 55 declined seven points to 60 in the third quarter, reports HousingWire . All three measurements of the single-family market for the 55-plus set experienced a decline, with present sales dropping seven points, expected sales for the next six months falling 12 points, and traffic for prospective buyers decreasing four points. NAHB's 55+ Housing Industry Council Chairman Chuck Ellison said one factor is builders having difficulty producing homes in the budget for prospective buyers in this age bracket.