US May NAHB housing market index 34 vs 40 expected

• Prior was 40

Details:

• Single family 37 vs 45 prior
• Prospective buyers 23 vs 25 prior
• Sales expectations 42 vs 43 prior

This matches the lowest since 2022 and — outside of the pandemic period — is the worst since 2012. The west region is particularly soft.

I can’t imagine that today’s touch of 5% in US 30-year yields is going to help the sentiment in the housing market. That said, spending on home-related goods was strong in today’s retail sales report.

This article was written by Adam Button at www.forexlive.com.