Sales for single-family homes sold to those older than 55 years old are down in the third quarter. So reports Housingwire.
The National Association of Home Builders' Housing Market Index shows sales dipped seven points to 60 and indicates builder confidence is slipping. The data highlights that Baby Boomers are passing up on downsizing opportunities and, instead, staying in their dwellings.
Present sales, expected sales and traffic for prospective buyers are all down for the demographic.