Builder Confidence in 55+ Single Family Housing Market Rises in First Quarter

According to the HMI, sales of 55+ single family homes rose 19 points to reach 46, expected six-month sales hiked 21 points to reach 53 and potential buyer traffic also reached 41 after climbing 15 points. The HMI is a sample based on perceptions of builders, which operates as a gauge for determining current housing trends and predicting demand among the people aged 55 and above. The potential buyer traffic, anticipated six-month sales and current sales are analyzed to arrive at the builder confidence number. Any number below 50 is considered to be poor. Experts believe that the strong demand comes from the improving performance in other housing sectors as well. However, builders are still unable to respond completely to the growing demand due to shortage of construction labor and increasing prices of construction material.