U.S. Builder Confidence Strengthens in the 55+ Housing Market
U.S. builder confidence in the over 55 housing market for single-family homes in Q2 rebounded 27 points from Q1 to 65, according to the National Association of Home Builders 55+ Housing Market Index (HMI). The multi-family condo market rose 18 points to a reading of 47 in the second quarter.
In the single-family home market, the 55+ HMI component gauging current sales conditions increased 24 points to 72 in Q2, while the measurement of sales expectations in the next six months rose 36 points from Q1 to 70. The component measuring prospective buyer traffic jumped 28 points to 46 in the second quarter.
The 55+ HMI multi-family component gauging current sales conditions grew 18 points from Q1 to 47, while the measurement of sales expectations in the next six months increased 25 points to 52 in Q2. The component measuring prospective multi-family buyer traffic totaled 39, up 25 points from Q1.
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