Last weekâs events included the National Association of Home Builderâs Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellenâs press conference.
Last week’s housing related reports included the National Association of Home Builders (NAHB) Housing Market Index for February, The Commerce Department’s report on Housing Starts for January and Freddie Mac’s weekly report on average mortgage rates. The Federal Reserve released the minutes of January’s FOMC meeting, which indicated that FOMC members are in no hurry to raise the target federal funds rate.
Last week’s economic reports included the National Association of Home Builders Wells Fargo Housing Market Index, Housing Starts for December and the FHFA Home Price Index report for November. Freddie Mac and the Department of Commerce released their weekly reports on mortgage rates and new jobless claims.
The National Association of Homebuilders (NAHB) Wells Fargo Housing Market Index reported that homebuilder confidence in sales conditions for single-family homes declined one point to a reading of 57. The NAHB Housing Market Index measures home builder confidence based on builder opinions of current market conditions, future market conditions and buyer foot traffic in new homes.
Home Builder Sentiment slipped to a reading of 57 in December according to the National Association of Home Builders Housing Market Index. November’s reading of 58 prompted analysts to project a reading of 59 for December. The latest reading marks the sixth consecutive month for readings above 50.