May index 70
he NAHB housing market index for June came in at 68 versus 70 expected. That was also lower than the 70 in May.
- index of current single family home sales 75 versus 76 in May
- index of prospective buyers 50 versus 51 in May
- index of home sales over next 6 months 76 versus 77 in May
- The NAHB cites lumber prices for dropping homebuilder sentiment Tariffs on lumber from Canada has added nearly $9000 the price of a new single-family home since January 2017. Lumber prices rose to a record in May
- higher mortgage rates shorter, the shortage of affordable price listings, and soaring property values have also made purchases less attractive especially for 1st time buyers
- The index fell to 64 in the Midwest from 67
- In the south it dropped to 69 from 71
- In the North East it rose to 61 from 56
- West posted a rise to 76 from 75
The index remains near high levels but off the December high at 74.0. That was an 18 year high.