NAHB index for sales of new, single-family homes unchanged
at 19 in November from the prior month. The reading for October and November is the lowest since the start of the index in 1985. The index is based on a survey of 342 home builders, who answer questions about sales prospects now and in the near future. When the index is greater than 50, it means the number of builders who see good sales outnumber those who see poor sales. NAHB chief economist David Seiders sees signs of “stabilization” in the report, and says he expects “an upswing in building activity,” most likely by 2H08.
