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 6/18/07 For Jun 2007 | ||||||||
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Highlights
NAHB's housing market index fell back 2 points in June to 28, a disappointment that will raise yet new concern over the housing sector. The report's three components all showed weakness: present sales fell 2 points to 29, six-month sales fell 2 points to 39, and buyer traffic fell 1 point to 22.
There wasn't much initial reaction to the report though the dollar did slip fractionally. Despite the report, early indications on June are still mixed as Mortgage Bankers' data have been firm. Next data on the housing market will be tomorrow with May housing starts where permit data will be closely watched for signs of recovery.
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