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 4/15/08 For Apr 2008 | ||||||||
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Highlights
The housing market index was unchanged in April at 20 with no change in the traffic component at 19, in results that suggest stabilization in the housing market. Both the overall index and the traffic index have remained unchanged over the past three months. But the results won't lift expectations for home sales data later this month as the housing market remains depressed by oversupply and a weakening consumer.
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