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Economy in Brief

NAHB Housing Market Index Stable
by Tom Moeller March 16, 2005

The National Association of Home Builders' (NAHB) Composite Housing Market Index held at 69 in March versus an upwardly revised level in February.

Each of the index components held about at the February levels including the indexes of current and prospective sales which both were up solidly versus last last year.

During the last twenty years, annual changes in the composite index had an 83% correlation with the change in new home sales. There's been an 86% correlation with the change in single family housing starts.

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.

Visit the National Association of Home Builders using this link.
Nat'l Association of Home Builders Mar Feb Mar '04 2004 2003 2002
Composite Housing Market Index 69 69 66 68 64 61
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