Builder Confidence in 55+ Housing Strengthens

The National Association of Home Builders' (NAHB) 55+ Housing Market Index (HMI) recorded a reading of 66 for the second quarter, up 11 points from the previous quarter.

 

All three components of the 55+ single-family HMI posted increases from the previous quarter: Expected sales for the next six months rose by 12 points to 80, an index high, while present sales saw an eight-point upswing to 70 and traffic of prospective buyers jumped 19 points to 53, also an index high. The 55+ multifamily condo HMI was up seven points to 53, with all three components posting gains in the second quarter: Present sales increased six points to 56, an index high, and expected sales for the next six months and traffic of prospective buyers both rose eight points to 55 and 45, respectively.

 

“Demand for 55+ housing continues to grow, and this quarter’s index is a reflection of that,” said Dennis Cunningham, chairman of NAHB's 55+ Housing Industry Council and president of ActiveWest Builders in Coeur d’Alene, Idaho. “Consumers in this market want a home that addresses their specific needs, and 55+ builders and developers are able to create homes and communities that cater to these needs.”

---