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 2/19/08 For Feb 2008 | ||||||||
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Highlights
The National Association of Home Builders report for February offers some good news on the housing sector as its index inched 1 point higher to 20. Single-family sales rose the same 1 point to 20 while traffic popped a solid 5 points higher to 19 but the gain comes from a very depressed 14 in January. The report said the improvement in traffic, now at its best level in more than six months, suggests that bottom fishers are considering the market. There was no immediate reaction in the financial markets but the numbers are likely to ease concern that declines in the housing sector are still accelerating. The next report on the housing market will be existing home sales early next week.
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