New home building is an important indicator for the rural equipment market. The National Assn. of Home Builders (NAHB) Housing Market Index in the U.S. fell to 64 in July of 2017 from a downwardly revised index of 66 in June, below market expectations of 67. It is the lowest reading in 8 months. The index of current single-family home sales went down 2 points to 70; sales expectations over the next 6 months declined 2 points to 73 and buyer traffic edged down 1 point to 48.
NAHB Housing Market Index in the United States averaged 49.44 from 1985 until 2017, reaching an all time high of 78 in December of 1998 and a record low of 8 in January of 2009.
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