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Housing Market Index
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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, sale of new homes expected in the next six months, and traffic of prospective buyers in new homes. (National Association of Home Builders/Wells Fargo) Why Investors Care
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| Released on
3/19/07
For
Mar 2007 |
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Housing Market Index
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| Actual |
36
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| Previous |
40
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Highlights
The NAHB housing market index fell back in March to 36 vs. February's four-point spike to 39. All categories in the March report slipped back, especially the six-month outlook. The report attributed March's dip to "deepening problems" with subprime mortgages, saying builders are uncertain about the sales consequences of tightening lending standards. It said some builders are already reporting negative effects on sales. There was no reaction in the markets. Subprime concerns are adding an unwanted wrinkle to an already slowing housing sector. Housing starts for February will be released tomorrow.
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