May index 70

he NAHB housing market index for June came in at 68 versus 70 expected. That was also lower than the 70 in May.

  • index of current single family home sales 75 versus 76 in May
  • index of prospective buyers 50 versus 51 in May
  • index of home sales over next 6 months 76 versus 77 in May
  • The NAHB cites lumber prices for dropping homebuilder sentiment  Tariffs on lumber from Canada has added nearly $9000 the price of a new single-family home since January 2017.  Lumber prices rose to a record in May
  • higher mortgage rates shorter, the shortage of affordable price listings, and soaring property values have also made purchases less attractive especially for 1st time buyers
  • The index fell to 64 in the Midwest from 67
  • In the south it dropped to 69 from 71
  • In the North East it rose to 61 from 56
  • West posted a rise to 76 from 75

The index remains near high levels but off the December high at 74.0. That was an 18 year high. 

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