Are the Homebuilders Still in a Bear Market? |
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January 25, 2015 |
January 2015 Bond Updates
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January's slightly lower Housing Market Index (HMI) still indicates that builders of single family homes are confident. The Housing Market Index (HMI) survey has been calculated for 30 years by the National Association of Home Builders/Wells Fargo. A reading above 50 suggests that the builder's outlook is good. It is an indicator that I have been following for many years.
There has been little change in the HMI over the past three months. In January 2012, I noted that it had completed a bottom formation (see circle) as it moved to a four year high at 25.
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View more at: http://www.forbes.com/sites/tomaspray/2015/01/24/are-the-homebuilders-still-in-a-bear-market/
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