The NAHB housing market index in the US fell for a 5th straight month to 69 in May of 2022 from 77 in April, below market forecasts of 75. It is the lowest level since June of 2020, hurt by rising mortgage rates and building material costs. The current sales subindex dropped 8 points to 76; buyer traffic dropped 9 points to 52, and sales expectations in the next six months sank 10 points to 63. "The housing market is facing growing challenges. Building material costs are up 19% from a year ago; in less than three months mortgage rates have surged to a 12-year high, and based on current affordability conditions, less than 50% of new and existing home sales are affordable for a typical family”, said NAHB chief economist Robert Dietz. source: National Association of Home Builders
Nahb Housing Market Index in the United States averaged 52.28 from 1985 until 2022, reaching an all time high of 90 in November of 2020 and a record low of 8 in January of 2009. This page provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Nahb Housing Market Index - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Nahb Housing Market Index in the United States is expected to be 65.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nahb Housing Market Index is projected to trend around 80.00 in 2023 and 70.00 in 2024, according to our econometric models.