Apr. NAHB Housing Market Index Unchanged at 20
The Apr. NAHB Housing Market Index was unchanged at 20 for a 3rd consecutive month. NAHB president Dunn said the housing market has not experienced the increase in sales activity normally associated with this time of year.
The NAHB believes measures from Congress will help release some pent-up demand in the marketplace while improving market confidence and stability.
The Apr. NAHB component index — which measure current sales conditions — fell 2 points to 18, the lowest level in over a year. The index measuring traffic of prospective buyers stood at 19 for the 3rd consecutive month. The index measuring sales expectations for the next 6 months grew 4 points to 30.
Regional results were mixed with the Northeast region gaining 1 point to 22, the Midwest falling 1 point to 15, the South falling 2 points to 24, and the West up 2 points to 17.