United States Nahb Housing Market Index

The NAHB/Wells Fargo Housing Market Index in the US was unchanged at 46 in December 2024, the same as in November but slightly below forecasts of 47, as high home prices and mortgage rates offset renewed hope about a better regulatory business climate in 2025. The gauge for current sales conditions held steady at 48 while the one charting traffic of prospective buyers posted a one-point decline to 31. On the other hand, future sales expectations have increased to 66, the highest since April 2022, as builders "are also anticipating future regulatory relief in the aftermath of the election", said NAHB Chairman Carl Harris. Meanwhile, 31% of builders cut home prices in December, unchanged from November. The average price reduction was steady at 5%. The use of sales incentives was 60% in December, also unchanged from November.

The NAHB/Wells Fargo Housing Market Index in the US rose to 46 in November, the highest in seven months, from 43 in October, and above forecasts of 44 as builders anticipate that market conditions will continue to improve after the Republicans' victory in both the White House and Congress. “With the elections now in the rearview mirror, builders are expressing increasing confidence that Republicans gaining all the levers of power in Washington will result in significant regulatory relief for the industry that will lead to the construction of more homes and apartments,” said NAHB Chairman Carl Harris. The gauge for current sales conditions rose by 2 points to 49, while sales expectations in the upcoming 6 months went up 7 points to 64. Also, the gauge measuring traffic of prospective buyers posted a 3 point gain to 32. Meanwhile, 31% of builders cut home prices in November, compared to 32% in October. The average price reduction was 5%, slightly below the 6% rate posted in October.

The NAHB/Wells Fargo Housing Market Index in the US rose to 43 in October of 2024 from 41 in the previous month, the highest since June, and slightly ahead of market expectations of 42. The gauge for current sales conditions rose by 2 points to 47, while sales expectations in the upcoming 6 months rose by a sharper 4 points to 57, supported by expectations that rate cuts by the Fed would stimulate housing demand. Accordingly, the gauge measuring traffic of prospective buyers rose by 2 points to 29. In the meantime, the share of builders that are cutting prices was loosely unchanged from the prior month at 32%.