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Economy in Brief

NAHB Housing Market Index Down Sharply in August
by Tom Moeller August 16, 2005

The National Association of Home Builders' (NAHB) Composite Housing Market Index fell sharply in August to 67 from an unrevised 70 In July.

During the last twenty years, annual changes in the composite index had an 85% correlation with the change in single family housing starts.

The August index for current sales of single family homes fell for the second consecutive month (-5.3%% y/y) but the index of expected sales in six months was stable (-1.3% y/y).

Traffic of prospective home buyers fell from July's record high.

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.

Nat'l Association of Home Builders August July August '04 2004 2003 2002
Composite Housing Market Index 67 70 70 68 64 61
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