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 3/17/08 For Mar 2008 | ||||||||
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Highlights
The housing market index was unchanged at 20 in March, no surprise for the markets which were braced for worse. Components were little changed with traffic unchanged at 19. Traffic popped 5 points higher in January and may pop higher again as lower prices attract new interest. Today's results should ease concern over tomorrow's housing starts data.
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