One of the biggest concerns right now for the US economy is the fact that rates are rising, and potentially threatening to choke off, or at least slow down the housing recovery.
The housing recovery has been integral to the overall economic recovery, so the way this issue gets resolved is of major importance.
This week we get a fair amount of housing data (most of it tomorrow) but today we get a key datapoint.
• At 10:00 AM, the July NAHB homebuilder survey will be released. The consensus is for a reading of 52, the same as in June. Any number above 50 indicates that more builders view sales conditions as good than poor.
Housing data takes many shapes, including data on starts, existing sales, prices, etc. But this gauge of homebuilder sentiment actually has been useful, and it will be interesting to see what is gleaned in light of the rising rate environment.
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