US housing market index rises in December

(Sharecast News) - The National Association of Housebuilders' housing market index edged up to 37 in December, up from an almost 12-month low of 34 in November and beating forecasts for a reading of 36. Homebuilder sentiment rose for the first time in five months, boosted by falling mortgage rates and recent economic data that seems to indicate that housing conditions have improved heading into 2024.

The sub-index for current single-family home sales remained steady at 40, while the sub-index for expected home sales over the next six months went up to 45 from 39. Elsewhere, the gauge for prospective buyers went up to 24 from 21.