Finally, some good news for the housing market(Read article summary)
The latest housing market index shows that all measures increased in January, propelling the composite HMI index to its highest level since 2007
Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing that all measures increased in January with the composite HMI index climbing to 25, the highest level seen since mid-2007, while the "buyer traffic" index climbed to 21.
While all indicators made notable increases in January, it's important to note that conditions still remain distressed by historic standards.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.