55+ HMI Index Soars in 2nd Quarter

All components of NAHB’s 55+ Housing Market Index showed major growth in the 2nd Quarter of 2013. Compared to the 2nd Quarter of 2012, both the single-family and the multifamily indices jumped 24 points: the single-family from 29 to 54 points, and the multifamily from 19 to 43 points.  Both indices are comprised of several components and all of the components posted substantial gains.  For the 55+ single-family index, presents sales climbed 24 points to 54, expected sales climbed 25 points to 60, and traffic of prospective buyers climbed 26 points to 48.  On the multifamily side, present sales rose 26 points to 44, expected sales rose 26 points to 46, and traffic of prospective buyers rose 19 points to 38.  An index number above 50 indicates more builders view conditions as good than poor.