2017 Economic Calendar
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Housing Market Index  
Released On 3/15/2017 10:00:00 AM For Mar, 2017
PriorConsensusConsensus RangeActual
Housing Market Index65 66 65  to 66 71 

Strong optimism is the theme of so many reports including the housing market index which is up a very sharp 6 points in March to 71 for the best reading of the economic cycle. Home builders peg current sales at an index of 78, up 7 points from February, and see future sales also at 78, for a 5 point gain. And their assessment of traffic is perhaps most telling, at 54 for an 8 point gain. This is the 3rd plus 50 score for this reading in the last 4 months and it suggests that first-time buyers, who have held down the housing sector this cycle, are also optimistic and are looking to buy a new home.

This report points to strength for permit data in tomorrow's housing starts report and also to strength in next week's report on new home sales. But optimism doesn't always translate into immediate strength for hard economic data and it's important to remember that new home sales have been struggling in recent months.

Consensus Outlook
The housing sector strengthened at year end but has been uneven so far this year. The housing market index slowed 2 points in January and another 2 points in February to 65 though forecasters see the index gaining back 1 point to 66 in March. The traffic component has been the wildcard, surging to cycle-high strength following the November election but falling back into sub-50 contraction during February.

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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