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Profile of The Future Homeowner |
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40 percent of all households will be headed by someone 55 or older by 2012.
FOR IMMEDIATE RELEASE
Contact: Elizabeth Landry
202-266-8680
elandry@nahb.com
www.nahb.org
Report: 55+ Population to Reach 85 Million by 2014
ORLANDO, Fla. - A new report from the National Association of Home Builders' (NAHB) 50+ Housing Council predicts that 40 percent of all households will be headed by someone 55 or older by 2012. The 55+ population is expected to reach 85 million by 2014. The number of households in the 65-74 age bracket by itself will grow by 4.5 million between 2005 and 2014, an increase of more than 38 percent in only ten years.
Data from the report, "Profile of the 50+ Housing Market," was released at a press conference held at the International Builders' Show. The Profile, put together by NAHB Housing Policy Researcher Paul Emrath, analyzes U.S. Census Bureau data, provides demographic information, and forecasts housing characteristics, mobility, neighborhood attributes and other factors that will help determine demand for 50+ housing. It is available exclusively to members of the NAHB 50+ Housing Council. Seven total chapters are planned for the Profile, which will cover topics< including 50+ Regional and Neighborhood Attributes, 50+ Housing Characteristics, and 50+ Household Mobility.
"Most Boomer buyers don't need to move," said Norman Cohen, an Atlanta-based builder and 2006 Chairman of the NAHB 50+ Housing Council. "They'll change homes when their lifestyles change--whether it's because they're starting a home-based business or they just want to live maintenance-free."
The annual 55+ estimates are generated by applying the American Housing Survey (AHS) percentages to NAHB's forecast of housing activity for calendar year 2007.
*EDITOR'S NOTE: Copies of the Profile of the 50+ Housing Market are available to members of the press free of charge. Please contact Elizabeth Landry at 202-266-8680 or elandry@nahb.com.
ABOUT THE 50+ HOUSING COUNCIL: Since 1989, the 50+ Housing Council (formerly Seniors Housing Council) has served the special needs and interests of NAHB members and others in the housing industry who build for the growing 50+ market. The 50+ Housing Council provides information, education and research to its members and offers advocacy support to NAHB members on key 50+ housing issues. The council supports< 14 local councils around the United States and serves more than 1,200 NAHB members involved in 50+ housing. 50+ Housing Council products include an annual symposium: Building for Boomers & Beyond, the award-winning 50+ Housing Magazine, industry research and education programs at the local, regional and national level. For more information, contact Elizabeth Landry at 202-266-8680 or elandry@nahb.com.
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 235,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct 80 percent of the more than 1.56 million new housing units projected for 2007, making housing one of the largest engines of economic growth in the country.
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