NAHB housing market Index for April 45 versus 44 estimate | Forexlive
- Prior report44
- NAHB housing market index for April 45 versus 44 estimate
- Current sales 51 versus 49 last month
- Prospective buyers 31 versus 31 last month
- Next six months 50 versus 47 last month
Anything below 50 is indicative of a slowing market.
“For the fourth straight month, builder confidence has increased due to a lack of resale inventory despite elevated interest rates. Builders note that additional declines in mortgage rates, to below 6%, will price-in further demand for housing. Nonetheless, the industry continues to be plagued by building material issues, including lack of access to electrical transformer equipment.”
They added:
“Currently, one-third of housing inventory is new construction, compared to historical norms of a little more than 10%,” said NAHB Chief Economist Robert Dietz. “More buyers looking at new homes, along with the use of sales incentives, have supported new home sales since the start of 2023. And while AD&C loan conditions are tight, there is not significant evidence thus far that pressure on the regional bank system has made this lending environment for builders and land developers worse.”
The NAHB stands for the National Association of Home Builders, a trade organization based in the United States. Established in 1942, the NAHB represents the interests of the housing industry and works to ensure that the American dream of homeownership remains accessible and affordable.
The association includes home builders, remodelers, and suppliers, as well as professionals from associated industries such as finance, architecture, and engineering. The NAHB conducts research, offers educational opportunities, and advocates for policies and regulations that support the housing industry. One of the Key reports published by the NAHB is the monthly Housing Market Index (HMI), which gauges builder sentiment and serves as a leading indicator of the health of the housing market.
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