Description
The US National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) is compiled and released by the National Association of Home Builders (NAHB). This index gauges the confidence of single-family home builders. An index reading above 50 indicates that more builders view market conditions as good rather than poor. It is a leading indicator of the health of the housing market and the broader economy.
The HMI is derived from a monthly survey of NAHB members, asking about current single-family home sales market conditions, expectations for the market six months out, and traffic of prospective buyers.
The data is released monthly, typically on the third Tuesday of each month.