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Forex News Review: NAHB Housing Market Index falls to 19 from 20

Posted by Greg Michalowski on Thu, 05/15/2008 - 12:07pm in

NAHB

18 is the all time low level reached in December 2007. This is a builder survey and until that time when New and Existing home sales supply declines (they are near 10 month supply for each), there is no incentive for builders to build. It is as simple as that. If the number improved I would be more skeptical at this point....

The good news is the index is stable and not getting any worse.