2017 Economic Calendar
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Housing Market Index  
Released On 7/18/2017 10:00:00 AM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Housing Market Index67 66 68 65  to 69 64 

Home builders are less exuberant as the housing market index fell to a weaker-than-expected 64 in July. This is the lowest reading since November last year. The report cites the effects of high lumber costs on home builders but the decline in this index joins a run of moderation in other housing data.

Slowing is evenly divided among the 3 components. Future sales still lead at 73 with present sales at 70. But traffic, at 48, is below breakeven 50 for the 2nd month in a row. Regionally, the West remains the strongest for homebuilders followed by the Midwest and South and the Northeast far behind.

Today's report does not point to improvement for tomorrow's housing starts and permits data which are nevertheless expected to improve from prior weakness. Mortgage rates remain low but they haven't been giving housing much of a push.

Consensus Outlook
Optimism among home builders has been fading in recent months but remains very high, at 67 for the housing market index in June with July's Econoday consensus at 68. Expectations for future sales have been this report's key plus with the traffic component showing on-and-off again strength.

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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