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Economy in Brief

Housing Market Index Backpedaled
by Tom Moeller September 21, 2004

The Composite Housing Market Index reported by the National Association of Home Builders (NAHB) backpedaled in September to 68 and reversed nearly all of the gain in August.

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 reversed more than all of the August gain and the index of expected sales during the next six months fell more moderately.

The index of traffic of prospective buyers fell to 52 but remained at a relatively high level.

Visit the National Association of Home Builders using this link.

Nat'l Association of Home Builders Sept Aug Sept '03 2003 2002 2001
Composite Housing Market Index 68 71 68 64 61 56
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