Econoday Economic Report: Housing Market Index May 18, 2009

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Housing Market Index

Released On 5/18/2009 1:00:00 PM For May, 2009

	Prior	Actual
Housing Market Index	14	16

Highlights
The jury is still out but there is some evidence building that the worst of the housing slump may finally be passing. The home builders' housing market index was among the first to signal improvement, showing a 5 point jump in last month's report for April. The latest report for May also shows improvement, up 2 points to 16. The traffic component in May was flat but readings on current and future sales both improved. Commentary in the report is very upbeat, saying the latest gain confirms strength in the prior month and that current bargains offer "once in a lifetime" buying opportunities. But the headline gain, smaller than last month's rise, failed to trigger much immediate enthusiasm in the financial markets which are holding steady. Housing starts for April will be released tomorrow.

Definition
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, sale 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: 1/21 2/17 3/16 4/15 5/18 6/15 7/16 8/17 9/16 10/19 11/17 12/15

Release For: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec