A report on housing from the National Association of Home Builders (NAHB) and The MetLife Mature Market Institute confirmed exactly what we had suspected of the age 55-plus segment. In short, most boomers don't want to move, and those who do simply prefer to be closer to family.
But those were 2007 estimates. Since then moving rates in the United States have stagnated and home prices still haven't hit bottom.
Where will boomer housing go from here? Projections show age 55-plus customers will account for almost 85,000 of new single-family home sales and almost 900,000 of existing single-family sales in 2009. New construction sales in 2010 will fall short of 2008 numbers by nearly 75,000.