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 10/16/08 For Oct 2008 | ||||||||
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Highlights
If stability in the banking system depends on recovery in the housing sector, there is little reason for optimism. The housing market index, already at record lows, fell yet deeper, down 3 points in October to 14. All components declined with traffic, at 12, bringing up the rear. The report said declines reflect the effects of the financial market crisis. Housing starts for September will be posted tomorrow morning.
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