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The Week Ahead: Watching Market Conditions Following Unusual Highs

This week, the National Association of Homebuilders and Wells Fargo will release their latest Housing Market Index (HMI) for May, a measure of market conditions based on three factors, with a range of zero to 100. While the March HMI was unusually high, reaching 71, April stayed steady at 65. All three individual components (present single family sales, next six-month single family sales, and prospective buyer traffic) reported losses month over month, but were still strong.

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