Yesterday, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing a slight increase to the overall index as well as most component indices.It's important to recognize that although each sentiment index has now shown year-over-year increases, their levels still remain near the worst levels seen in over 20 years.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.
