Home Builder Confidence Grows in Sr. Market

According to the National Association of Home Builders (NAHB) 55+ Housing Market Index (HMI), builder confidence increased in the third quarter 2012 threefold over a year ago, from 12 to 36. A score of 50 or better indicates more builders see conditions as favorable, as opposed to unfavorable. There are three subcategories in this demographic: single-family homes, multifamily condominiums, and rental apartments, and each is surveyed on the basis of current sales, prospective buyer traffic, and anticipated sales for the next six months. As MHProNews has learned, the component numbers all more than doubled in Q3 2012 over the previous third quarter, the best reading for a third quarter since the survey began in 2008. NAHB Chief Economist David Crowe says, “Like other segments of the housing industry, the market for 55+ housing is continuing on a steady upward path, driven by improving conditions in additional markets around some parts of the country.”

(Photo credit: Fotosearch)

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