2016 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Housing Market Index  
Released On 6/16/2016 10:00:00 AM For Jun, 2016
PriorConsensusConsensus RangeActual
Housing Market Index58 59 58  to 60 60 

The housing market index finally broke out, up 2 points to 60 following four straight months at 58. The gain reflects a 5 point surge to 70 for future sales and reflects improvement in traffic which is up 3 points though still at a soft sub-50 reading of 47. The present sales component remains very strong, up 1 point at 64.

Looking at regional composite scores, the West, which is a favorite for home builders, is out in front at 70 followed by the South at 64. The Midwest is also positive at 56 while the Northeast, already fully developed, is far back as usual at 39.

Improvement in traffic is a big plus in this report, hinting at a new source of acceleration for home builders. The new home market has been solid but has been held back by lack of first-time buyers as well as constraints in the construction sector that are limiting new building.

Consensus Outlook
The housing market index has come in unchanged at 58 for four months in a row but a fifth such result is not expected for June where forecasters are calling for a 1 point gain to 59. Though flat month-to-month, the index has been well over breakeven 50 this year to indicate a healthy though non-accelerating rate of growth. Both current sales and future sales have been trending in the mid to low 60s with traffic, held down by lack of first-time buyers, sharply depressed in the mid to low 40s.

The National Association of Home Builders produces a housing market index based on a survey in which respondents from this organization are asked to rate the general economy and housing market conditions. The housing market index is a weighted average of separate diffusion indexes: present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes.  Why Investors Care

2016 Release Schedule
Released On: 1/192/163/154/185/166/167/188/159/1910/1811/1612/15
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

powered by  [Econoday]