The NAHB/Wells Fargo Housing Market Index in the United States rose by 5 points to 50 in May 2023, easily beating market consensus of 45. This marks the fifth consecutive month of growth and the highest level since July of the previous year, due to strong demand for new construction driven by limited housing supply. However, builders are still facing challenges in meeting this demand due to shortages of building materials like transformers, as well as tightening credit conditions for residential real estate development and construction, influenced by the Federal Reserve's interest rates hikes. The gauge for current single-family home sales was up 5 points to 56, while the home sales over next six months sub-index increased 7 points to 57. In addition, the gauge for prospective buyers rose 2 points to 33. source: National Association of Home Builders
Nahb Housing Market Index in the United States averaged 52.08 points from 1985 until 2023, reaching an all time high of 90.00 points in November of 2020 and a record low of 8.00 points in January of 2009. This page provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Nahb Housing Market Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Nahb Housing Market Index in the United States is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.