2017 Economic Calendar
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Housing Market Index  
Released On 8/15/2017 10:00:00 AM For Aug, 2017
PriorConsensusConsensus RangeActual
Housing Market Index64 65 63  to 66 68 

The housing market index joins retail sales and Empire State as major upside surprises this morning, up 4 points to 68 in August which tops Econoday's high forecast by 2 points. This puts the index back at levels earlier this year and points to building confidence among the nation's home builders.

Builders see gains for both present sales, up 4 points to 74, and 6-month sales, up 5 points to 78. Trailing far behind, however, and not showing much pace is traffic still under 50 at 49. Lack of traffic hints at lack of first-time buyers who appear to be getting locked out of the new home market by high prices and lack of supply on the market.

Regional composite scores show the West, a key region for builders, out in front followed by the South and Midwest which are also both very strong followed in the distance by the Northeast which is flat. This report offers an advance indication for August but won't be hurting expectations any for tomorrow's July housing starts and permits report where strength is the call.

Consensus Outlook
Optimism among home builders has been fading in recent months as the housing market index, reflecting a downturn in buyer traffic, came in at 64 in July vs high 60 readings earlier in the year. High prices for new homes along with thin supply have been holding back the market. The consensus for August is 65.

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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