Could some of the most in-demand housing markets be cooling off?
Data: builder confidence in 55+ market down slightly
Builder confidence in the 55+ housing market for single-family homes fell three points from a year ago.
single-family homes, home market, housing market, builder confidence
Builder confidence in the 55+ housing market for single-family homes fell three points from a year ago, according to data from the National Association of Home Builders (NAHB) and reported on its blog.
The 55+ single-family Housing Market Index (HMI) measures builder sentiment based on current sales, prospective buyer traffic and anticipated six-month sales for the 55+ single-family market. A number greater than 50 indicates that more builders view conditions as good than poor. Among the index components, present sales dropped four points, to 11. Expected sales (six months into the future) dropped nine points, to 15. Traffic of prospective buyers rose two points, to 13.
While staying even compared with a year earlier, the 55+ multifamily condo HMI still remains weak, with an index level of 10. Present sales dropped one point, to 9, while expected sales dropped four points, to 10. Traffic of prospective buyers rose two points, to 11.
However, 55+ multifamily rentals remain the strongest segment of the 55+ housing market, with the index measuring present demand rising 12 points to 40, and the one measuring future demand up 10 points to 42. Current and future production indices for 55+ multifamily rental units also jumped in the third quarter from a year ago, up 11 points (to 25) and 10 points (to 26), respectively.
For the full 55+ HMI tables, click here.