2017 Economic Calendar
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Housing Market Index  
Released On 5/15/2017 10:00:00 AM For May, 2017
PriorConsensusConsensus RangeActual
Housing Market Index68 68 65  to 69 70 

Highlights
New home sales have been one of this year's best surprises and home builders are reporting strong activity this month and see even better times ahead. The housing market index topped expectations in May, rising 2 points to 70. Current sales are also up 2 points to 76 with 6-month sales up 4 points to a very strong 79. And traffic, in a key reading, is at 51 and over breakeven 50 for the 5th time in the last six months. The West leads the regions with a 3-month composite score of 80 with the Northeast trailing at 50.

Even though traffic is nearly 30 points behind sales, it is still the highlight of the report. This is its best run by far of the expansion and offers a hopeful hint that first-time buyers, who have been priced out of the new home market, may begin to be a factor. Today's report is a plus heading into tomorrow's housing starts report where similar strength is expected.

Recent History Of This Indicator
Improvement in traffic has been the key to the housing market index which has been tracking at unusual levels of strength. Traffic had been in extended contraction for most of the expansion until moving over the breakeven 50 level back in December and holding there in 4 of the last 5 months. Sales readings, well into the 70s, have been very strong and are expected to underpin May's consensus headline at 68, unchanged from April.

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
 
 

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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