The NAHB/Wells Fargo Housing Market Index fell to 29 in October 2026, down three points from September, according to NAHB's October 19, 2026 release. The monthly survey covers builders in the national market for newly built single-family homes.
All three components declined: current sales conditions reached 33, sales expectations for the next six months 32, and prospective buyer traffic 18.
The HMI is a seasonally adjusted, 0–100 index that combines these survey responses. Lower readings indicate less optimism among builders. The questions cover perceptions of sales conditions, expectations and buyer traffic. Local transactions and rental records supply additional evidence for a specific property.
Three checks for owners
- Match the market: Review comparable local new-home listings and available inventory.
- Read the offer: Record asking prices, any written sales incentives and each offer's expiry date.
- Check leasing evidence: Review recent enquiries and achieved lease comparables when considering a rental plan.
Sources: NAHB release published October 19, 2026; reference period: October 2026 HMI survey. https://www.nahb.org/news-and-economics/press-releases/2026/10/builder-sentiment-falls-on-rising-rates
HMI readings and methodology: https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index
