【World Property Journal】Despite COVID, Builder Confidence in 55+ Housing Markets Hit Record High in U.S.

According to the National Association of Home Builders' latest 55+ Housing Market Index, builder confidence in the single-family 55+ housing market was at an all-time high in the third quarter, jumping 18 points to 83 in the third quarter of 2020.

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).

"We saw 55+ buyers come out in force in the third quarter of this year, driving strong growth in sales at 55+ communities," said Harry Miller III, chairman of NAHB's 55+ Housing Industry Council. "However, shortages of key building materials are contributing to affordability concerns and delayed construction schedules, although recent declines in lumber prices offer good news."

All three index components of the 55+ single-family HMI posted gains in the third quarter and were all-time highs: present sales increased 16 points to 88, expected sales for the next six months rose 20 points to 90 and traffic of prospective buyers jumped 23 points to 69.   
 

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