Release of the October Existing Home Sales

NAHB Housing Market Index Reports Builder Confidence Steadies

The latest reading of 76 is up slightly from last month.

The latest reading of 75 is down slightly from last month.

Here’s an excerpt from this morning’s blog update:

Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment in the market for newly built single-family homes edged up one point to 76 in September, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.

Here is the historical series, which dates from 1985.

Housing Market Index

The HMI correlates fairly closely with broad measures of consumer confidence. Here is a pair of overlays with the Michigan Consumer Sentiment Index (through the previous month) and the Conference Board’s Consumer Confidence Index (through the current month).

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HMI and Consumer Confidence