Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings November 2011

Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing that all measures increased in November with the composite HMI index climbing to 20 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 November, 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.

Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings September 2011

Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing that all measures declined in September with the composite HMI index falling to 14 while the "buyer traffic" index remained near record lows as home builders continue to plod through the weakest activity seen in generations.

It's interesting to note that assessments of future conditions appears to be trending back down to series lows apparently indicating that respondents are growing more pessimistic about future conditions.

The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.

Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings July 2011

Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing tepid increases across most measures with the composite HMI index climbing a meager two points since last month while the "buyer traffic" index remained near record lows as home builders continue to plod through the weakest activity seen in generations.

It's important to recognize that currently all measures are continuing to show epic weakness with even the strongest sentiment gain only slightly beating the level seen last year.

Clearly the new home market has seen another no-show start to the buying season with the typically strongest selling months (remember Bob Toll's analysis of the seasons) fully behind it.

The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.

Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings March 2011

Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing a flattening for most measures with the "buyer traffic" index remaining near record lows as home builders continue to plod through the weakest activity seen in generations.

It's important to recognize that currently the HMI index is showing a slight year-over-year gain but still remains very near the lowest levels seen in over 20 years, a testament to the significance of the latest pullback.

The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.