NAHB/Wells Fargo Housing Market Index
The NAHB/Wells Fargo Housing Market Index (HMI) measures builder sentiment in the single-family housing market.
Based on a monthly survey, builders rate current home sales, expected sales over the next six months, and prospective buyer traffic. The index ranges from 0 to 100, with readings above 50 indicating positive market outlooks.
NAHB/Westlake Royal Remodeling Market Index
The NAHB/Westlake Royal Remodeling Market Index (RMI) measures remodeler sentiment in the residential remodeling market. Based on a quarterly survey of NAHB remodelers, it tracks both current market conditions and future expectations.
Remodelers rate five aspects of the market, including project size, lead traffic, and project backlog. The index ranges from 0 to 100, with readings above 50 indicating more remodelers view conditions as good rather than poor. The RMI is an average of two subcomponents: the Current Conditions Index and the Future Indicators Index.
NAHB Multifamily Market Survey
The NAHB Multifamily Market Survey (MMS) tracks conditions in the multifamily housing sector through a quarterly survey of builders and property managers. It produces two separate indices: the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI).
The MPI measures builder sentiment on current apartment and condo production, while the MOI gauges perceptions of rental occupancy levels. Both indices range from 0 to 100, with readings above 50 indicating more respondents view conditions as good than poor.
NAHB/Wells Fargo Cost of Housing Index
The NAHB/Wells Fargo Cost of Housing Index (CHI) measures housing affordability by estimating the share of a typical family’s income needed to pay the mortgage on a median-priced home.
Reported quarterly, the CHI provides data at the national level for new and existing homes, as well as for existing homes in 176 metro areas. It also includes a low-income CHI to reflect affordability for households earning 50% of the area median income.
NAHB AD&C Financing Survey
NAHB’s quarterly Survey on Acquisition, Development, and Construction (AD&C) Financing tracks builder and developer perceptions of credit availability. Respondents report whether conditions have improved, worsened, or remained the same since the previous quarter. Results are summarized in the Net Tightening Index, where positive readings indicate tightening credit, and higher numbers reflect more widespread tightening.
NAHB Home Building Geography Index
The Home Building Geography Index (HBGI) is a quarterly measure that tracks housing construction activity across the U.S. using county-level data on single-family and multifamily building permits. It provides insights into how home building trends vary by geographic characteristics, such as population density and regional classifications. The HBGI helps identify shifts in where construction is occurring, offering a clearer picture of emerging patterns in residential development across different market types.
NAHB Market Association Index
The Market Association Index (MAI) analyzes the alignment of multifamily construction trends within Metropolitan Statistical Areas (MSAs) compared to national patterns. By examining permit data from 2012-2022, the MAI calculates a correlation index based on five-year and ten-year trends, with a heavier weight on the five-year trend.
The index measures how closely an MSA’s permit trends align with national trends, with values ranging from -1 (perfect inverse relationship) to +1 (perfect positive relationship). The MAI is conducted separately for single and multifamily permit data. Due to this index being conducted based on annual trends, it is conducted once a year.
