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For quite some time, it has been evident that the housing market in the US will not decline. As a result, home builders find themselves in a favorable position and are becoming more assured that increased interest rates will not result in a crash of the US housing market.

The benchmark level of 50 acts as a vital signal to differentiate between a thriving economy (above 50) and a shrinking one (below 50). In the last month, the index hit a new low of 31, the first time it had fallen beneath the 50 mark since July of 2022. Before the onset of the pandemic, the index typically fluctuated within the range of 55 to 70. However, the pandemic caused great volatility in the market, leading to the index surging close to 90 and dropping to a low of around 75. The previous year saw significant drops coinciding with heightened rates, induced until it hit rock bottom at the end of the year.

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