Housing market improves
All indicators made notable increases in October, but it's important to note that conditions still remain at epically distressed levels.
Yesterday, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing that all measures increased in October with the composite HMI index climbing to 18 while the "buyer traffic" index remained near record lows as home builders continue to plod through the weakest activity seen in generations.
While all indicators made notable increases in October, it's important to note that conditions still remain at epically distressed levels.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.
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