NAHB housing market index was 67 in August too
The NAHB housing market index was high than expected and 67 versus 66. That was unchanged versus August. A reading above 50 is considered positive for the housing market.
- current single family home sales 74 versus 73 in August
- prospective buyers index 49 verses 49 in August
- home sales over next 6 months 74 versus 72 in August
- the index has been above the 50 level since July 2014
- the recent high was at 74 in December 2017. The 67 level is the low for the year adn the lowest low since September 2017.
Housing has had some trouble as a result of lower supply, higher prices, higher rates making affordability more difficult. Later in the week, housing starts and building permits will be released tomorrow, along with existing home sales on Friday. New home sales will be released on September 26.
