Need To Know News

Single-family home sales index: 16 vs. downwardly revised 15 prior

Prospective buyers index: unchanged at 12

Single-family home sales index: record low 16 vs. 17 prior

Prospective buyers index: record low 12 vs. 16 prior

Single-family home sales index: unch. at 17

Prospective buyers index: 17 vs. 18 prior

Home sales over next 6 months index: unch. at 28

NAHB predicts volume of home sales will continue to decline.

The June NAHB Housing Market Index is expected to be unchanged from the May reading of 19. The NAHB Housing Market Index has issued readings of 19 or 20 each month since the historical low of 18 in December.

The NAHB Housing Market Index will be the first piece of housing data covering portions of June which greatly reduces forecast accuracy. Recent NAHB Housing Market data have not displayed similar month-over-month movements as has other related US housing data, though general trends in the data is indicative of further contraction going forward.

Recent housing market data:

* April Existing Home Sales down 1%
* April Housing Starts up 8.2%, Building Permits up 4.9%
* April New Home Sales up 3.3%
* April Pending Home Sales up 6.3%
* Q1 US Mortgage Delinquencies up 6.35%
* MBA Mortgage Applications average 2.78% weekly decline since week ending May 9

The June NAHB Housing Market Index is expected to be unchanged from the May reading of 19. The NAHB Housing Market Index has issued readings of 19 or 20 each month since the historical low of 18 in December.

The NAHB Housing Market Index will be the first piece of housing data covering portions of June which greatly reduces forecast accuracy. Recent NAHB Housing Market data have not displayed similar month-over-month movements as has other related US housing data, though general trends in the data is indicative of further contraction going forward.

Prior Housing Market Data:

* April Existing Home Sales down 1%
* April Housing Starts up 8.2%, Building Permits up 4.9%
* April New Home Sales up 3.3%
* April Pending Home Sales up 6.3%
* Q1 US Mortgage Delinquencies up 6.35%
* MBA Mortgage Applications average 2.78% weekly decline since week ending May 9

Single-family home sales index: 17 vs. 18 prior

Prospective buyers index: 17 vs. 19 prior

Home sales over next 6 months index: 27 vs. 30 prior

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.

The NAHB’s Housing Market Index held steady at 20 in March as analysts had expected. In Dec. the index hit an all-time low of 18 and has moderated above that level slightly.

The index for current sales conditions remained at 20 and the index for prospective buyers’ traffic remained at 19. The index measuring 6-month sales expectations, however, fell to 26 from 27.

Of the 4 regions the index covers, the Northeast fell to 21 from 23 and the West fell 1 point to 15. The Midwest region held steady at 16 and the South region reported a 2-point gain to 26.

The NAHB Housing Market Index came in at 20 for February, above expectations of 19 and above the prior reading of 19. The Current Single-Family Home Sales Index also rose to 20 from a Jan. reading of 19. The NAHB’s Index of Prospective Buyers jumped to 19 from 14 in Jan.

Index of current single family homes sales: 19 vs. 19 prior
Index of prospective buyers: 14 vs. 13 prior
Index of home sales over next 6 months: 28 vs. 26 prior