Signs of Life in the Housing Market

Housing Market Index
-National Association of Home Builders Index rose to 21
-Increase from 20 last month
-Signs of Life: 3rd straight monthly gain in builder confidence
-Readings of 50 or greater indicate improvement
-Index hasn’t reached 50+ level since April 2006
–Full homebuilders report
-Table below shows homebuilders index 1985 – PRESENT

This week is fairly thin on market moving data but has lots of housing updates. Notably we have the so called “final” 3Q2011 GDP Thursday. BEA continues to revise these quarterly GDP’s for years afterwards. Here’s the week’s outlook.