U.S. Builder Confidence Mixed in 55+ Housing Market
U.S. builder confidence in the 55+ housing market was mixed in Q4 2019, with single-family confidence dropping 4 points from Q3 to 68, while the multi-family condo market rose 5 points to 58 on the National Association of Home Builders 55+ HMI.
In the single-family home market, the 55+ HMI component gauging current sales conditions fell 5 points to 73 in Q4, while the measurement of sales expectations in the next six months dropped 2 points from Q3 to 75. The component measuring prospective buyer traffic dropped 4 points to 51 in the last quarter 2019.
The 55+ HMI multi-family component gauging current sales conditions rose 4 points from Q3 to 60, while the measurement of sales expectations in the next six months increased 5 points to 61 in Q4. The component measuring prospective multi-family buyer traffic totaled 53, up 6 points from Q3.
Derived from a quarterly NAHB survey, the 55+ HMI gauges builder perceptions of current single-family and multi-family condo home sales and sales expectations in the over 55 market. Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good rather than poor. See NAHB