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Homebuilder confidence in the single-family 55-plus housing market has not abated, according to the latest National Association of Home Builders (NAHB) 55+ Housing Market Index (HMI), which registered a third quarter reading of 60, up three points from the previous quarter. This marks the sixth consecutive quarter that this HMI registered above 50.
All three components of the 55-plus single-family HMI were up from the previous quarter: present sales rose three points to 65, expected sales for the next six months inched up one point to 67 and traffic of prospective buyers jumped three points to 46. The 55-plus multifamily condo HMI saw a seven point ascension to 50, the highest level since the index was launched in 2008.
All four indices tracking production and demand of in multifamily rentals within this sector also posted third quarter gains.
“Like the overall housing market, we continue to see steady, positive growth in the 55-plus market,” said NAHB Chief Economist David Crowe. “With the economy and job growth continuing to improve gradually, many consumers are now able to sell their current homes at a suitable price, enabling them to buy or rent in a 55-plus community.”