Builder confidence in the 55+ housing market for single-family homes went up four points to 18 compared with the same period a year ago, according to the latest National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI).
The 55+ multifamily condo HMI also showed improvement, with an index level up six points to 14. Present sales rose five points to 12, expected sales for the next six months rose three points to 17, and traffic of prospective buyers increased five points to 15.
The 55+ multifamily rentals increased across all components: Present production doubled to 34 points, expected future production increased 12 points to 35, current demand for existing units jumped 14 points to 42, and expected future demand increased 12 points to 44.
The 55+ single-family HMI measures builder sentiment based on current sales, prospective buyer traffic, and anticipated six-month sales for that market. A number greater than 50 indicates that more builders view conditions as good than poor.
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