On November 16, 2024, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes gained three points to 46 points in November of 2024 from 43 points in October of 2024.
The HMI component charting present sales conditions up two points to 49 points, the HMI buyer traffic higher three points to 32 points, and the HMI sales expectations index rose seven points to 64 points in November of 2024.
The three-month moving averages for regional HMI scores, South grew one point at 42 points, the West unchanged zero point at 41 points, Northeast gained four points at 55 points, Midwest increased three points to 44 points in November of 2024.
NAHB Chief Economist Robert Dietz, stated “Moreover, while the stock market cheered the election result, the bond market has concerns, as indicated by a rise for long-term interest rates. There is also policy uncertainty in front of the business sector and housing market as the executive branch changes hands.”
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