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Economy in Brief

Housing Market Index Recovered
by Tom Moeller October 19, 2004

The Composite Housing Market Index from the National Association of Home Builders (NAHB) recovered in October from the prior month's decline to 72, the highest level in a year.

The NAHB index is a diffusion index based on a survey of builders. Readings above 50 signal that more builders view conditions as good than poor.

The index of current single family home sales also surged to its highest in a year and the index of expected sales in six months jumped the highest level since 1999.

The index of traffic of prospective buyers rose to 54 and that was above the year to date average.

Visit the National Association of Home Builders using this link.

Nat'l Association of Home Builders Oct Sept Oct '03 2003 2002 2001
Composite Housing Market Index 72 67 72 64 61 56
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