Builder confidence in 55+ housing market returns

Builder confidence in 55+ housing market returns

Thursday, July 30, 2020 from Floor Covering Weekly

[Washington] Builder confidence in the single-family 55+ housing market bounced back in the second quarter, jumping 27 points to 65, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI).

NAHB said 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).

“Low supply of existing homes and low interest rates are key factors in helping the 55+ housing market bounce back to where it was at the beginning of the year,” said Harry Miller III, chairman of NAHB’s 55+ Housing Industry Council and president of Regal Builders LLC in Dover, Del.

Added NAHB chief economist Robert Dietz, “Like the broader housing market, we are seeing the 55+ housing market return to pre-pandemic levels. However, challenges such as rising lumber costs and availability of skilled labor will limit a more robust recovery.”

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