Kevin Spires, CFA, FRM
The NAHB Wells Fargo Housing Market Indicator was released earlier today. The level held steady at 29 - although last month was revised down to 28 from an originally reported 29.
With a decent lead on Single Family Housing Starts, the current level of the HMI implies continued improvement in single family housing starts. 50 is considered "normal" conditions on the HMI, so we are a long way from a complete recovery in the Housing Market, but the recovery process is underway.
With a decent lead on Single Family Housing Starts, the current level of the HMI implies continued improvement in single family housing starts. 50 is considered "normal" conditions on the HMI, so we are a long way from a complete recovery in the Housing Market, but the recovery process is underway.
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