Builders Confidence in 55+ Housing Market Drops to Lowest Reading Since 2012

According to the National Association of Home Builder’s (NAHB) 55+ Housing Market Index (55+HMI), builders confidence in the single-family 55+ housing market fell 30 to a reading of 38, in the first quarter of 2020. This is the lowest reading since the 4th Qtr. of 2012. The 55+HMI survey produces two indices, one measuring the 55+ single-family market and another for the 55+ multifamily condominium market. Each segment of the 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic). Both single-family and multifamily markets suffered substantial losses in the first quarter of 2020.