According to the recently released National Association of Builders’ (NAHB) 55+ Housing Market Index (HMI) builder’s confidence in the single-family 55+ housing market increased 27 points to a reading of 65 in the second quarter. A reading of 50 points or higher indicate that builders see their markets as good. Harry III, chairman of the NAHB’s 55+ Housing Industrial Council said in prepared remarks that. “Low supply of existing homes and low interest rates are key factors in helping the 55+ housing market bounce back to where it was at the beginning of the year. Robert Dietz, NAHB chief economist added that, “Like the broader housing market, we are seeing the 55+ housing market return to pre-pandemic levels. However, challenges such as rising lumber costs and availability of skilled labor will limit a more robust recovery.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.