Housing Market Healthier after NAHB Index Continues to Improve

The NAHB/Wells Fargo index moved by 1 point today to register 29 points in June.
After a very impressive 5 point recovery last month which took the NAHB index to five year highs the market had no expectation of a significant movement in today’s report. National Association of Home Builders Housing Market Index registered a print of 28 points(revised) in May 15th. The rise in the index it not a clear signal of housing recovery as the building industry still has a long way to go and is only now close to 2007 levels.

Last week the NAHB posted its Improving Markets Index (IMI) which listed 80 improving metropolitan areas. The index is based on improvements in housing permits, employment and housing prices in the past 6 months.

For more information visit the National Association of Home Builders website

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza