In the first quarter, the NAHB 55+ Housing Market Index had a score of 55. The Index fell from a score of 67 the previous quarter, an all-time high.
Despite the drop, builders remain optimistic. An index above 50 indicates that more builders view conditions as good instead of poor.
All three components of the single-family 55+ HMI posted decreases from the previous quarter: present sales dropped 12 points to 62, expected sales for the next six months decreased seven points to 68 and traffic of prospective buyers fell 15 points to 34.