55+ Single-family Market Improves

The National Association of Home Builders tells MHProNews builder confidence in single-family homes for the 55+ market for Q2 2012 more than doubled over the second quarter of 2011, from 13 to 29, the highest second quarter reading since this sector of NAHB’s Housing Market Index (MHI) started in 2008. The index measures builder sentiment based on current sales, prospective buyers, and anticipated sales in six months. A number below 50 shows builder confidence is poor, but the size of the increase in one year bodes well for this market segment. Says NAHB Chief Economist David Crowe, “We are seeing buyers slowly return to the 55+ housing market as home prices begin to improve. This helps unlock some of the pent-up demand from 55+ consumers who have been sitting on the sidelines until they are able to sell their current homes at a reasonable price.”

(Photo credit: Masterfile)

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