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 10/16/07 For Oct 2007 | ||||||||
| ||||||||
Highlights
The housing market is still falling, at least according to the National Association of Home Builders housing market index which fell 2 points in October to 18 -- yes, a new record low. The weakest component is traffic, down 2 points to 15. This is especially discouraging news for home builders who are sitting on an ever-rising mountain of supply with very little interest from possible buyers. The index for those expecting to buy a home at the present time fell 2 points to 18, but expectations six months out continue to be the least weak of the categories, unchanged at 26. Expectations may be holding up as potential buyers wait for prices to come in earnest. Financial markets didn't show much reaction to the data but, along with the big drop in pending home sales data at the beginning of the month, expectations will be looking for further deterioration in upcoming new and existing home sales.
| 2007 Release Schedule | ||||||||||||||||||||||||||
|
powered by
![[Econoday]](../../../../../../../../../images/logo.gif){kind=logo}