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 6/16/08 For Jun 2008 | ||||||||
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Highlights
The housing market index from the National Association of Home Builders is pressing to new lows, down 1 point in June to 18 and reflecting badly swollen supply on the market. The components for both buyer traffic and current sales are 17, pointing to weak home sales now and down the road. Markets showed no reaction to the report which nevertheless is more bad news for the housing market. Housing starts data for May will be released tomorrow.
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