2017 Economic Calendar
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Housing Market Index  
Released On 1/18/2017 10:00:00 AM For Jan, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Housing Market Index70 69 69 67  to 71 67 

Home builders are as confident as they have been since the sub-prime boom 10 years ago. The housing market index in January is 67, down just 2 points from a revised and cycle high of 69 in December.

All the components are strong but strength at the rear is the big story. Traffic held over 50, edging only 1 point lower to 51 for, along with December, the only plus-50 readings in 11 years. Traffic had been very low all cycle and this improvement is an indication of new demand for new homes.

Sales readings remain very high, at 72 for current sales and 76 for sales 6 months out. These readings hint at strength for tomorrow's housing starts & permits report.

The West remains the favorite region for home builders with a 3-month average score of 79. The South follows at 67, the Midwest at 64, and the Northeast far back at 52 but coming out of sub-50 contraction.

The rise in mortgage rates isn't denting any of the enthusiasm among home builders for what they see ahead as another strong year, perhaps an even stronger year.

Consensus Outlook
The housing market index jumped an unusually strong 7 points to 70 in December, a new cycle high and pointing to momentum ahead for the new home market. Even before December's jump, the index had been showing outstanding strength reflecting strong sales expectations and also long delayed improvement in traffic. Traffic was December's highlight, rising to 53 for the first plus-50 expansionary score in 11 years in a tangible indication of rising demand. The Econoday consensus for January calls for only very little give back, down 1 point to 69.

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

2017 Release Schedule
Released On: 1/182/153/154/175/156/157/188/159/1810/1711/1612/18
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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