Published: 2024-03-18T14:07:23.000Z
U.S. March NAHB Homebuilders Index - Recovery continues
Senior Economist , North America
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March’s NAHB homebuilders’ index has continued its recent recovery, rising to 51 from 48, a fifth straight gain and the highest level since June 2023.
The gain comes as something of a surprise given that mortgage rates, which slipped significantly in late 2023, have been starting to rise again, and thus signals some resilience in the housing market.
The data contrasts some slippage in MBA house purchase data from highs seen in January. March’s NAHB gain was reflected in all three components of the index, though most strongly in current sales.
