The current sales conditions fell from 50 in January to 46 in February, while sales expectations fell from 59 to 46 in the coming six months. The traffic of potential buyers fell from 32 to 29.
The report showed that 26% of the builders reduced prices in February compared to 30% in January. The average price reduction was 5%, in line with the previous month.
The National Association of Home Builders noted: “While builders hold hope on pro-development policy, in particular for reforming regulations, policy security and cost factors, created a reset for 2025 expectations in the most recent housing market index.”
Uncertainty about the rate policy served as the most important catalyst, because 32% of the devices and 30% of the softwood wood come from international trade.
US Dollar Index went lower as traders responded to the weaker than expected NAHB Housing Market Index report. Currently, US Dollar Index is trying to settle under the level of 106.90.
Gold tested new highlights near the level of $ 2930 after the release of the report. Gold traders ignore the rising treasury proceeds and focus on a strong demand from central banks.