50+ Housing Sales Slump at the End of the Road
The year ahead looks increasingly positive for the active adult housing market, according to participants at an Oct. 7 Web seminar sponsored by the NAHB's 50+ Housing Council. But joblessness and tighter credit conditions still linger as constraints on sales and construction activity, they said, and in the early stages of recovery prospective buyers will continue to be price-conscious and to demonstrate restraint.
“It’s not the time to run out and start great developments at this moment,” cautioned Margaret Wylde, president and CEO of ProMatura Group, LLC, who led an hour-long discussion on prospects for the 50+ market. But, she said, “there’s going to be a gradual pull out from where we are now, and within the next two years we will see a significant rebound.” ...