55+ builder confidence remains high

HomeCOVID-19COVID-19-home55+ builder confidence remains high

Washington, D.C.—Builder confidence in the single-family 55+ housing market remained high in the fourth quarter, inching down one point from an all-time high to 82, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI).

“Builders continue to report a strong market for the 55+ housing segment,” said Harry Miller III, chairman of NAHB’s 55+ Housing Industry Council and president of Regal Builders LLC in Dover, Del. “However, in some parts of the country we are seeing some lost interest in multi-family communities due to COVID-19 concerns.”

There are two 55+ HMIs measuring distinct segments of the 55+ housing market: single-family homes and multi-family condominiums. Each 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).

Two of the three index components of the 55+ single-family HMI decreased in the fourth quarter: present sales dropped one point to 87, expected sales for the next six months fell seven points to 83 and traffic of prospective buyers remained unchanged at 69.

The 55+ multi-family condo HMI fell four points to 63. All three index components also decreased from the previous quarter: present sales fell four points to 66, expected sales for the next six months decreased three points to 64 and traffic of prospective buyers dropped six points to 57. All four components of the 55+ multi-family rental market fell in the fourth quarter: present production decreased six points to 56, expected future production dropped 16 points 45, present demand for existing units fell 13 points to 63 and future expected demand decreased six points to 65.

“Like the broader housing market, builders are dealing with increased building material costs, labor shortages and a lack of buildable lots,” added Robert Dietz, NAHB chief economist. “These supply side issues are making it difficult to meet the strong demand for the 55+ housing market.”

For the full 55+ HMI tables, please visit nahb.org/55hmi.

Must Read

A success for Hospitality Design Conference

Milan, Italy—The latest edition of the Hospitality Design Conference, organized by Teamwork Hospitality, a leading hotel consultancy and training company headed by president Mauro...

Shaw Industries’ Chuck Babcock inducted into Driver Hall of Fame

Dalton—Shaw Industries has inducted Charles “Chuck” Babcock into the National Private Truck Council’s (NPTC) Hall of Fame. Imagine making 148 trips around the Earth and...

Starnet helps members ‘chart their course’

Amelia Island, Fla.—Many of North America’s largest and most influential commercial floor covering contractors assembled here this week for the 2024 Starnet spring conference....

Tarkett to take part in Chicago’s Design Days

Chicago—As more than 40,000 people from across the global design community gather in Fulton Market District from June 10–12 for Chicago's Design Days, an...

Retailers React: How is the home remodeling business in your market?

Every two weeks, FCNews seeks out flooring retailers across the country to offer their advice on hot topics of the day. This week, we...

i4F to exhibit 2024 Domotex Asia/ChinaFloor

Shanghai, China—i4F, a group of companies providing patents and technologies to the flooring industry, is participating as an exhibitor at this year’s Domotex Asia/ChinaFloor...
Some text some message..
X