The latest reading for the NAHB Housing Market Index came in slightly below consensus again (47 vs 49). The index was particularly weak looking at the traffic of prospective buyers. This component series remains subdued at 32, well below the highs made in September 2013...
The NAHB Housing Market Index increased to 58 to post the highest number since August, which is also the highest level of the recovery. The HMI correlates pretty well with house prices. And house prices, in turn, tend to lead CPI Owner’s Equivalent Rent....
An under appreciated aspect of the rebound in the housing market has been the relative lack of a rebound in the Northeast. According to Case-Shiller, New York City has had the weakest rebound in prices from their lows of the twenty cities they track and...
The NAHB Housing Market Index ticket down from 57 to 55 in October. However, the index has shown a surprisingly strong negative correlation with the Unemployment Rate (Index goes up, Unemployment rate goes down). This relationship would suggest that the unemployment rate continues to fall...
