The NAHB/Wells Fargo Housing Market Index in the US fell to 43 in June 2024 from 45 in May, below market expectations of 45. It was the lowest reading since December 2023, attributed to mortgage rates remaining around 7% and elevated construction financing costs. The gauge for current sales conditions fell three points to 48, the component measuring sales expectations in the next six months fell four points to 47 and the gauge charting traffic of prospective buyers declined two points to 28. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” said NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan. “Home builders are also dealing with higher rates for construction and development loans, chronic labor shortages and a dearth of buildable lots.”. source: National Association of Home Builders
Nahb Housing Market Index in the United States decreased to 43 points in June from 45 points in May of 2024. Nahb Housing Market Index in the United States averaged 51.91 points from 1985 until 2024, reaching an all time high of 90.00 points in November of 2020 and a record low of 8.00 points in January of 2009. This page provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Nahb Housing Market Index - data, historical chart, forecasts and calendar of releases - was last updated on July of 2024.
Nahb Housing Market Index in the United States decreased to 43 points in June from 45 points in May of 2024. Nahb Housing Market Index in the United States is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nahb Housing Market Index is projected to trend around 53.00 points in 2025, according to our econometric models.