How did homebuilders rate market conditions this month? Make sure you stay tuned to this—as well as keep on eye on other crucial reports about to drop—in The Week Ahead.
On Monday at 10 a.m. EST, the National Association of Home Builders (NAHB) will release its monthly Housing Market Index (HMI). The HMI is based a survey of NAHB members and gives a glimpse into the state of the single-family housing market.
The survey has NAHB members rate market conditions of the sale of new homes at the present time and in the next six months and the traffic of prospective buyers.
Robert Dietz, Chief Economist for NAHB, recently [1] commented on a drop in home sales in September reported by the U.S. Census Bureau and HUD. "[This] Marks a notable retreat from the recent, modest growth trend that had been in place due to solid economic conditions and unmet demographic demand but constrained by rising construction costs due to labor access issues, building material pricing and rising regulatory costs," Dietz commented.
Here's what else is in store in the week ahead:
- Census Bureau Housing Starts, Tuesday, 8:30 a.m. EST
- MBA Mortgage Apps, Wednesday, 7 a.m. EST
- National Association of Realtors Existing Home Sales Report, Wednesday, 10 a.m. a.m. EST
- First American Loan Application Defect Index