Recent Updates

  • US: GDP by Industry (Q1), Consumer Sentiment (Jul - prelim)
  • Belgium: Retail Trade (May), Consumer Confidence Survey (Jul)
  • Canada: Retail Trade (May)
  • Canada Regional: Retail Trade by Province (May)
  • Spain: Number of Employees (Q1), Synthetic Indicators (Apr-Jun)
  • more updates...

Economy in Brief

U.S. NAHB Housing Market Index Stable At A Record Low
by Tom Moeller December 15, 2008

The National Association of Home Builders' (NAHB) indicated that its December Composite Housing Market Index remained stable m/m at a reading of 9. The latest level was the lowest in the series' history which extends back to 1984 and it was down by 90% from the high during 2005.

During the last twenty years there has been an 83% correlation between the y/y change in the Composite Index and the change in single family housing starts.

The index for single-family detached homes dipped slightly m/m to a new series' low while builders' view of single-family home sales during the next six months also fell to the series' low.

Traffic of prospective home buyers held steady m/m at the series' low.

Except for a modest uptick in the West, the builders' index in the country's regions continued to decline or held steady at the record low level.

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

Visit the National Association of Home Builders.

The Great Recapitalization from the Federal Reserve Bank of St. Louis can be found here.

Nat'l Association of Home Builders December November   December '07 2008 2007 2006
Composite Housing Market Index 9 9 18 16 27 42
large image