Builder expectations for future home sales are optimistic as shown in the NAHB’s latest Housing Market Index. The index, based on a monthly survey of home builders, rose 62 in June from 57 in May. Any reading over 50 indicates that more builders rate sales conditions as good than poor.
The latest survey conducted by the 12 Federal Reserve Banks indicates that business conditions remain generally soft. Although reports indicate some signs of increased economic activity in April and May, conditions remained sluggish in most districts.
Economic activity increased or showed signs of improving in the Dallas, Kansas City, New York, and Minneapolis districts. The Philadelphia and Cleveland reports characterized activity as mixed, while other districts generally saw slow, subpar, or subdued economic growth.