National Association of Home Builders/Wells Fargo Sentiment Index Reaches All-Time Low
June 17, 2008
The NAHB/Wells Fargo Sentiment Index guages the market sentiment of builders of single-family homes. The index has been tracking this data for over twenty years and the data they released yesterday indicates that sentiment is at an all-time low of 18. 50 is the median number, with any number over that indicates that more builders see conditions as good vs poor, and vice versa for numbers below that.
The index’s component indexes gauging current sales conditions and sales expectations for the next six months each remained unchanged in June, at 17 and 28, respectively. Meanwhile, the component gauging traffic of prospective buyers fell a single point to 17 indicating that there is no uptick in sight.
The data is available for viewing here:
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