United States Nahb Housing Market Index

Last Release

Jan 31, 2026

Actual

Units In

N/A

Frequency

Monthly

Next Release

Feb 17, 2026

Time to Release

1 Months 0 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
90 Nov 2020	8 Jan 2009	51.41	1985-2026	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 fell to 37.0 in January 2026, down from 39.0 in December and below market expectations of 40.0. This marked the weakest reading in three months, signaling continued challenges in the US housing market. Builder sentiment deteriorated across all components of the index. Current sales conditions edged down by one point to 41, while sales expectations for the next six months declined three points to 49. Traffic of prospective buyers also weakened, falling three points to 23. The survey further showed that 40% of builders reported cutting prices in January, unchanged from December and marking the third consecutive month in which the share remained at 40% or higher, the highest level since May 2020. The average price reduction increased to 6%, up from 5% in December. Meanwhile, the use of sales incentives rose to 65%, extending a streak of 10 consecutive months above the 60% threshold.