On Tuesday, the latest installment of the NAHB Wells Fargo Housing Market Index [1] (HMI) will drop, providing insights into "the pulse of the single-family housing market." The Index is based on a survey that asks home builders "to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes."
The previous release of the HMI found the Index dropping one point to "a solid 67" in mid-August.
“The good news is that builders continue to report strong demand for new housing, fueled by steady job and income growth along with rising household formations,” said NAHB Chairman Randy Noel at the time. “However, they are increasingly focused on growing affordability concerns, stemming from rising construction costs, shortages of skilled labor and a dearth of buildable lots.”
Here's what else is happening in The Week Ahead.
- Housing Starts Survey, Wednesday, 8:30 a.m. ET
- MBA Mortgage Apps 7:30 a.m. ET
- NAR Existing Home Sales 10 a.m. ET
- Fed Balance Sheet, 4:30 p.m. ET