On Monday, June 18, 2018, the National Association of Home Builders [1] (NAHB) will release the June data of its NAHB/Wells Fargo Housing Market Index (HMI). The index is based on a monthly survey of NAHB members and measures the performance of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months. It also gauges the traffic of prospective buyers for new homes.
In May [2], NAHB said that builder confidence in the market for new single-family homes rose two points to 70 after a downwardly revised April reading on the NAHB/Wells Fargo HMI. This was the fourth time that the HMI touched 70 or higher during the year. The HMI chart gauging current sales conditions increased two points to 76 in May while the indexes measuring buyer traffic and expectations in the next six months remained unchanged at 51 and 77 respectively. According to the HMI data looking at the three-month moving average for regional HMI scores, the West and Northeast remained unchanged at 76 and 55 respectively, while the South and Midwest edged down by a point each to 72 and 65 respectively.
Here's what else is in store for The Week Ahead:
- First American Real House Price Index, Monday
- Housing Starts Survey, Tuesday, 8.30 a.m. ET
- MBA Apps, Wednesday, 7 a.m. ET
- NAR Existing Home Sales, Wednesday, 10 a.m. ET
- FHFA House Price Index, Thursday, 9 a.m. ET
- DS News Zombie Homes webinar, Thursday, 2, p.m.
- Fed Balance Sheet, Thursday, 4.30 p.m. ET