US April NAHB housing market index 69 vs 70 expected

Technical Analysis

Author: Greg Michalowski | nahb

March index came in at 70.

  • The April NAHB housing market index came in at 69 vs 70 expected. 
  • Prior month was 70
  • THe single-family home sales Index fell to 75 versus 77 in March
  • prospective buyers came in at 51 unchanged from the March level
  • Over the next 6 months 77 versus 78 and March
  • A reading above 50 is considered positive. 
Although lower, the index remains positive and nearer to high levels.

The HMI is a weighted average of separate diffusion indices for these three key single-family series. The first two series are rated on a scale of Good, Fair and Poor and the last is rated on a scale of High/Very High, Average, and Low/Very Low. A diffusion index is calculated for each series by applying the formula "(Good-Poor+100)/2" to the present and future sales series and "(High/Very High - Low/Very Low + 100)/2" to the traffic series. Each resulting index is then seasonally adjusted and weighted to produce the HMI.Based on this calculation, the HMI can range between 0 and 100.
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