Builders Still Upbeat About Senior Housing Market

Washington, DC, Aug. 8, 2016 -- Builder confidence in the single-family 55+ housing market remains in positive territory in the second quarter, according to the National Association of Home Builders.

It is the ninth consecutive quarter the association's index has had a positive reading.

“Builders and developers for the 55+ housing sector continue to report steady demand,” said Jim Chapman, chairman of NAHB's 55+ Housing Industry Council. “However, there are many places around the country facing labor and lot shortages, which are hindering production.”

There are separate 55+ HMIs for two segments of the 55+ housing market: single-family homes and multifamily condominiums.

One of the three index components of the 55+ single-family index posted an increase from the previous quarter: traffic of prospective buyers increased four points to 42. Present sales held steady at 61 while expected sales for the next six months dropped two points to 69.  

The 55+ multifamily condo index dipped one point. The index component for expected sales for the next six months rose three points, while present sales remained even.

“Much like the overall housing market, this quarter’s 55+ HMI results show that this segment continues its gradual, steady recovery,” said NAHB Chief Economist Robert Dietz.