The National Association of Home Builders (NAHB) produces two separate 55-housing market reports. One is for single-family homes and the other for multifamily condominiums. The NAHB is reporting that Builders Confidence in the single-family 55+ housing market remained elevated in Q4 2020. The 55+ single-family housing market index (55+HMI) moved one point lower to a reading of 82, down from an all time high of 83 in Q3 2020. While the 55+ multifamily condo HMI fell four points to 63 in Q4 2020. According to the NAHB report overall, the 55+ housing market ended 2020 on a high note, despite the COVID-19 pandemic. However, it is important to note that 55+ builders continue to experience supply-side challenges, which include labor and lot shortages, making it difficult to meet the strong market demand.
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Builder Confidence in the 55+ Housing Market Remains High in Fourth Quarter