U.S. NAHB NAHB Homebuilders Index - Weaker, but 6 month expectations stabilize

Current sales at 43 from 46 and buyer traffic at 24 from 29 are both the weakest since December 2023 but 6 month expectations held steady at 47, a hint that recent slippage in bond yields is giving some support to the outlook, though this followed a particularly steep February drop.

While the NAHB index has shown some volatility and responsiveness to bond yields and Fed policy expectations, over the last two years has remained in a 30 to 55 range while new home sales have kept to a 600 to 750k range.

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