Housing Index Holds Steady

The NAHB Housing Market Index held steady in December at the upwardly revised November level of 70, according to the National Association of Home Builders.In addition, the index gauging builder sentiment about the current single-family sales market fell one point, to 77, and the measure of expected sales over the next six months dropped five points, to 76. The reading for prospective homebuyer traffic rose four points, to 51, the NAHB said. "Buyer demand is holding up well this holiday season, and single-family builders are pleased to be ending the year on such a high note," said NAHB president Kent Conine, a home and apartment builder from Dallas. Anything above 50 in the index and its components, which are based on surveys of hundreds of builders, means homebuilders believe that the single-family housing market is doing well. The NAHB can be found online at http://www.nahb.com.