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 8/18/08 For Aug 2008 | ||||||||
| ||||||||
Highlights
The monthly homebuilders index held dead flat at record lows, at an overall reading of 16 though components for current sales and future sales did tick higher. Not ticking higher, however, was prospective buyer traffic which held at an extremely weak level of 12. The only good news in this report is that readings aren't getting even worse. The report noted that home-buyer tax credits, now passed by Congress, are likely to bring buyers back into the market. But the text of the report has been upbeat for the past year. The outlook for the sector, hit by a weakening jobs market and tight credit, remains negative. Markets showed no reaction to the data.
| 2008 Release Schedule | ||||||||||||||||||||||||||
|
powered by
![[Econoday]](../../../../../../../../../images/logo.gif){kind=logo}