NAHB Housing Market Index Drops To 39; SP500 Tests Session Highs

On March 17, 2025, the National Association of Home Builders released NAHB Housing Market Index report for March. The report indicated that NAHB Housing Market Index declined from 42 in February to 39 in March, compared to analyst consensus of 42.

The report showed that current sales conditions declined from 46 in February to 43 in March. Sales expectations in the next six months were unchanged at 47, while traffic of prospective buyers decreased from 29 to 24.

NAHB noted that 29% of builders cut home prices in March, compared to 26% in February. The average price reduction was 5%, in line with the previous month.

U.S. Dollar Index settled near session lows as traders reacted to the weaker-than-expected NAHB Housing Market Index report. Currently, U.S. Dollar Index is trying to settle below the 103.50 level.

Gold moved back above the $2990 level after the release of the report. Weak dollar provides support to gold markets in today’s trading session. From a big picture point of view, gold continues its attempts to settle above the $3000 level.

SP500 tested session highs and made an attempt to settle above the 5670 level. SP500 is moving higher as traders bet on a rebound after the strong pullback. It remains to be seen whether housing market data will have a material impact on equity markets today.

For a look at all of today’s economic events, check out our economic calendar.