The National Association of Home Builders produces a housing market index based on a survey in which respondents from this organization are asked to rate the general economy and housing market conditions. The housing market index is a weighted average of separate diffusion indexes: present sales of new homes, sale of new homes expected in the next six months, and traffic of prospective buyers in new homes. (National Association of Home Builders/Wells Fargo) Why Investors Care
| Released on 2/15/07 For Feb 2007 | ||||||||
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Highlights
Housing demand may in fact be improving, at least according to the NAHB housing market index which jumped to 40 in February vs. 35 in January. The strength is a surprise given softening mortgage-application data and dire outlooks from the nation's homebuilders.
The report's three sub-indexes -- current sales, six-month sales, and buyer traffic -- all showed gains, which the NAHB attributed to lower energy prices, favorable mortgage rates and a sound labor market.
Hard data from the housing sector for January gets underway tomorrow with housing starts. Treasuries eased in initial reaction to the NAHB report.
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