Builder confidence in the 55+ housing market gradually is increasing, according to the results of a survey conducted by the National Association of Home Builders.
The organization questioned builders about the markets for the single-family housing, multifamily condominiums and multifamily rental markets for the age group. Indicators across all markets improved in the second quarter, NAHB said.
Housing Market Index, or HMI, readings greater than 50 mean that builders view conditions as more good than poor.
Polled builders appeared to feel most favorably about single-family housing, with an overall reading of 66, up 11 points from the previous quarter. “This is the 13th consecutive quarter with a reading above 50,” Carmel Ford said in a post on the NAHB website.
HMI readings for expected sales, present sales and traffic of prospective buyers in 55+ single-family homes also increased in the second quarter, with expected sales having the highest reading, 80.
The 55+ multifamily condo HMI increased to 53, up seven points, in the second quarter. HMI readings for expected sales, present sales and traffic of prospective buyers in 55+ multifamily condos also increased in the second quarter, with present sales getting the highest reading, 56, of these indicators.
In the 55+ multifamily rental market, expected future demand had the highest reading of the relevant indices, at 67. Readings for present production, expected future production and current demand for existing units also increased.
NAHB said the results are consistent with its forecast of continued gradual gains in the housing market this year.
Read more about the survey results here.