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 7/16/08 For Jul 2008 | ||||||||
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Highlights
The housing market index from the National Association of Home Builders hit a record low in July, dropping for the third straight month, coming in at 16 and compared to 18 in June. Components were universally negative with present 1-family sales down to 17 from 16 in June, 6-months out index falling to 23 from 27 in June, and prospective buyer traffic falling to 12 in July from 16 the prior month. The news points to further deterioration in housing rather than stabilization. The next key housing report is for starts and permits tomorrow.
| 2008 Release Schedule | ||||||||||||||||||||||||||
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