US June NAHB housing market index 32 vs 36 expected

• Prior was 34

Details:

• Single family 35 vs 37 prior
• Prospective buyers 21 vs 23 prior
• Sales expectations 40 vs 42 prior

This is a dismal number and is the worst since 2022 and within striking distance of the 2020 low of 30. Anything home-related is in a deep recession right now with no help in sight as 30-year borrowing rates remain high. A gigantic increase to the US deficit isn’t going to help, nor would a costly foreign war.

Fed cuts could start to turn the tide but not if the market senses inflation.

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