In Q1, the National Association of Home Builders' single-family 55+ Housing Market Index hit 72, the highest index reading since its creation in 2008.
The index measures builder confidence in the 55+ market, and all three subcomponents of the single-family index were up in the first quarter. Present sales were up four points to 76, expected sales for the next six months grew seven points to 77, and prospective buyer traffic grew eight points to 61.
The 55+ HMI measures two segments of the 55+ housing market: single-family homes and multifamily condominiums. Each segment of the 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic).
Advertisement
Related Stories
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers
Market Data + Trends
Single-Family Permits Show Increase in February
Year-to-date ending in February, single-family permits were up in all four regions of the U.S.
Financing
Q1 2024 Foreclosure Activity Rises Slightly
Data show New York, Houston, and Chicago topping the list of major metros with the greatest number of foreclosure starts during Q1 2024