United States Nahb Housing Market Index

Last Release

Apr 30, 2024

Actual

Units In

N/A

Frequency

Monthly

Next Release

May 15, 2024

Time to Release

29 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
90 Nov 2020	8 Jan 2009	51.94	1985-2024	National Association of Home Builders

NAHB/Wells Fargo Housing Market Index (HMI) is based on a monthly survey of home builders. They are asked to rate current sales of single-family homes and sales expectations for the next six months and to rate traffic of prospective buyers. Scores for responses to each component are used to calculate a seasonally adjusted overall index, where a number over 50 indicates more builders view sales conditions as good than poor.

Latest Updates

The NAHB/Wells Fargo Housing Market Index in the US held steady at 51.0 in April 2024, maintaining its highest level since July 2023 and marking a departure from four consecutive months of increases, as uncertainty surrounding interest rates has left potential home buyers hesitant. The gauge for current sales conditions increased one point to 57, and the component gauging traffic of prospective buyers increased one point to 35. On the other hand, the gauge for sales expectations in the next six months fell two points to 60. “April’s flat reading suggests potential for demand growth is there, but buyers are hesitating until they can better gauge where interest rates are headed,” said NAHB Chief Economist Robert Dietz. “With the markets now adjusting to rates being somewhat higher due to recent inflation readings, we still anticipate the Federal Reserve will announce future rate cuts later this year, and that mortgage rates will moderate in the second half of 2024.”