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Housing Market Index  
Released On 1/21/2009 1:00:00 PM For January, 2009
Housing Market Index

Bottomless pit comes to mind when describing the housing sector, a description definitely being shared by many homebuilders. The housing market index, compiled by the National Association of Homebuilders together with Wells Fargo, fell 1 point in January to a record low of 8 -- a level indicating that nearly all respondents are reporting month-to-month contraction. A year ago the index was at what seemed to be an impossibly weak level of 19. The weakest component in the latest report, unfortunately, is current sales of single family homes where the index is at 6.

The biggest disappointment in today's report is that the recent decline in mortgage rates doesn't seem to be having much impact, at least yet. There was no reaction to the report which points to continued depressed readings in month-end data on home sales.

The National Association of Home Builders produces a housing market index based on a survey in which respondents from this organization 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, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes.  Why Investors Care

2009 Release Schedule
Released On: 1/212/173/164/155/186/157/168/179/1610/1911/1712/15
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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