The National Association of Home Builders (NAHB) reports its 55+ Housing Market Index (HMI) slipped one point to 57 in the second quarter of 2015, but maintains the fifth consecutive quarter with a reading over 50. Any number over 50 indicates builders think conditions are good rather than poor, according to consumeraffairs.
Distinguishing between single-family homes and multi-family condos, the survey is based on current sales, prospective buyer traffic and outlook for six months.
In the single-family HMI sector, present sales fell two points to 62, expected sales for the next six months slipped one point to 66, while prospective buyers rose three points to 43.
In the multifamily 55+ category, present sales increased three points to 44, six months anticipated sales rose sharply 10 points to 49 and traffic of prospective buyers rose eight points to 41.
MHProNews has learned all four indices regarding 55+ multifamily rentals dropped in the second quarter. Present production plummeted 12 points to 46, anticipated future production fell 3 points to 49, current demand for existing units dropped 9 points to 59 and future demand slipped one point to 63.
NAHB Chief Economist David Crowe said, Overall, builders in the 55+ housing sector remain positive about the market,. However, many builders are being cautious as lot availability and skilled labor shortages remain a challenge in some parts of the country.” ##
(Photo credit: howstuffworks–baby boomers)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.