National Association of homebuilders housing market index for April
- Index plunges to 30 from 72 last month. The estimate was for a reading of 55. The monthly decline is -42 from the prior month. This is the largest single monthly drop on record and the lowest level since June 2012
- single-family sales present index came in at 36 versus 79 in March which is a decline of -43
- single-family sales of future came in at 36 versus 75 last month which is a decline of -39
- prospective buyers traffic 13 versus 56 last month which is a decline of -43
The NAHB chief economist commented:
While the virus is severely disrupting residential construction and the overall economy the need and demand for housing remains acute. As social distance and other mitigation efforts show signs of easing this health crisis, we expect that housing will play its traditional role of helping to lead the economy out of recession later in 2020
