2017 Economic Calendar
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Housing Market Index  
Released On 6/15/2017 10:00:00 AM For Jun, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Housing Market Index70 69 70 68  to 72 67 

Home builders have been very optimistic this year but are a little less upbeat this month. The housing market index slipped to 67 in June, down 2 points from a downward revised 69 in May and just below Econoday's low estimate. But expectations for future sales, at 76, remain unusually strong with current sales also unusually strong at 73. The one component, however, that had been coming to life is back below 50 as traffic fell 2 points to 49. Lack of traffic, and here the emphasis is on first-time buyers, does not point to renewed strength for home sales data which started the year very strong but have since slowed. Regional data are very solid with the West, Midwest, and South all clumped near composite scores of 70 while the Northeast continues to lag in the distance at 46. Watch for housing starts on tomorrow's calendar where snap-back strength is the call.

Consensus Outlook
Rising material and labor costs have not been eroding optimism among builders who have not only been reporting strong sales, whether current or future, but also have been reporting a rare increase in customer traffic. More of the same is expected with Econoday's consensus for the housing market index at 70 for June which would be unchanged from May. Note that this report failed to pick up weakness in housing starts and permits in April.

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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