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The housing market index, compiled by the National Association of Home Builders along with Wells Fargo, is not only indicative of demand for new housing, but also consumer financial confidence. The current housing market condition, which indicates a build up of housing inventory, has been brought in part by the lack of lending. As a repercussion, there has been a negative impact on the supply chain such as appliances, new furniture, lumber, and hardware.
The latest government data for housing starts in December 2008, released this morning, showed a steep decline of 15.5 percent, to a seasonally adjusted rate of 550,000 units; the lowest level since the Commerce Department started compiling data in 1959. As the pain in the housing industry continues, the bottom hunters will have to brace for another month of negative data.
The following table depicts the performance of some publicly held homebuilding companies:
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Data is a real-time snapshot *Data is delayed at least 15 minutes