Housing Market Index shows flat conditions for december
According to the National Association of Home Builders, Bloomberg reports "flat conditions at best so far in December according to the housing market index which is unchanged at 16. Details actually show deterioration in buyer traffic which had been improving following a deep low in September. This morning's mortgage application data also point to a slow start to the month."
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.