Builder Confidence in Senior Market Improves
Washington, DC, Feb. 7, 2012 -- Builder confidence in the 55+ housing market for single-family homes rose four points to 18 compared to the same period a year ago, according to the latest National Association of Home Builders’ 55+ Housing Market Index.
“We are seeing increased optimism from builders in the 55+ housing segment,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev.
“However, the market still remains weak as many people in the mature-market sector are hesitant to buy. They are concerned about selling their existing home at a fair price, due to low appraisals, an abundance of foreclosures and tighter mortgage lending criteria.”
The 55+ single-family HMI measures builder sentiment based on current sales, prospective buyer traffic and anticipated six-month sales for that market. A number greater than 50 indicates that more builders view conditions as good than poor.