Here Comes Homebuilder Confidence...
Economists polled by Bloomberg are looking for homebuilder sentiment to hold steady at 55.
A reading over 50 shows that more builders think sales conditions are good rather than poor.
"While much of the housing data were delayed due to the government shutdown, the most recent Case-Shiller home price report was very strong," according to Bank of America's analysts.
"Furthermore, job growth in October exceeded expectations, which should bolster optimism about future sales. Disappointing pending home sales offset some of this good news, but optimism should improve on net."
Investors track this index because it is a leading indicator for housing starts. Though some like Paul Diggle at Capital Economics argue that NAHB has a "history of over-exuberance as a predictor of starts."