United States Nahb Housing Market Index

Last Release

May 31, 2025

Actual

Units In

N/A

Frequency

Monthly

Next Release

Jun 17, 2025

Time to Release

1 Months 0 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
90 Nov 2020	8 Jan 2009	51.68	1985-2025	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 fell six points to 34 in May 2025, the lowest since November 2023 and below forecasts of 40. Current sales conditions fell eight points to 37, sales expectations in the next six months edged one-point lower to 42, and traffic of prospective buyers dropped two points to 23. The survey also revealed that 34% of builders cut home prices in May, up from 29% in April and the highest level since December 2023 (36%). Meanwhile, the average price reduction was 5% in May, unchanged from the previous month. The use of sales incentives was 61% in May, the same rate as the previous month.