U.S. January NAHB Homebuilders' Index - Responding to lower mortgage rates

 The index fell sharply through 2022 to reach a low of 31 in December before recovering to 56 in July of 2023, after which four straight declines were seen. Recent gains are matched by the MBA house purchase index moving of its lows, and suggest weakness in November new home sales will not be extended.

All three components of the January NAHB index picked up. The strongest rise was in future expectations, but current sales, which saw little change in December, also managed a significant bounce this time.