2018 Economic Calendar
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Housing Market Index  
Released On 8/15/2018 10:00:00 AM For Aug, 2018
PriorConsensusConsensus RangeActual
Housing Market Index68 68 66  to 69 67 

Highlights
Rising construction costs tied in part to tariffs are holding down builder confidence which, though slipping 1 point in August, is still very solid at 67. Still this is the lowest reading since September last year.

Both current and future sales slipped 1 point, to 73 and 72 respectively, with buyer traffic down 2 points and for the first time since October last year is back under 50 at 49. Weakness here points to lack of first-time buyers which has been a negative for housing throughout the ongoing expansion.

And builders are increasingly concerned about affordability which reflects a lack of skilled construction labor, buildable lots and high lumber costs with the latter reflecting what the report says are tariffs and the threat of a trade war. Watch tomorrow for housing starts and permits.

Consensus Outlook
Labor scarcity and high prices for materials have been limiting home builder confidence in recent months. Expectations for August's housing market index are another 68 vs 68 in both July and June.

Definition
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
 
 

2018 Release Schedule
Released On: 1/172/153/154/165/156/187/178/159/1810/1611/1912/17
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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