Every month, one day before the Housing Starts Report, the National Association of Home Builders (Wells Fargo) release the Housing Market Index. Data is release for the same month. January data is released in the middle of January.
Members of the National Association of Home Builders 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
Sale of new homes expected in the next six months
Traffic of prospective buyers in new homes
This report is an indication of both (1) economic momentum and (2) housing demand.
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