WASHINGTON – Builder confidence in the single-family 55+ housing market remains strong in the third quarter of 2015 with a reading of 60, up three points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI). This is the sixth consecutive quarter with a reading above 50.
“Builders have a positive outlook on the 55+ housing market,” said Timothy McCarthy, chairman of NAHB’s 55+ Housing Industry Council and managing partner of Traditions of America in Radnor, Pa. “In fact, the markets for single-family, apartments and condos are all doing quite well, and we expect that trend to continue.”
All four indices tracking production and demand of 55+ multifamily rentals posted gains in the third quarter. Present production rose nine points to 55, expected future production and current demand for existing units jumped 11 points to 60 and 70, respectively, and future demand increased five points to 68.
“Like the overall housing market, we continue to see steady, positive growth in the 55+ market,” said NAHB Chief Economist David Crowe. “With the economy and job growth continuing to improve gradually, many consumers are now able to sell their current homes at a suitable price, enabling them to buy or rent in a 55+ community.”