États-Unis Indice du marché de logement NAHB

The NAHB/Wells Fargo Housing Market Index (HMI) held steady at 32 in September 2025, the same as in August and June, and matching the lowest level since December 2022. The reading fell short of market expectations of 33, underscoring persistent weakness in the housing market. Current sales conditions remained steady at 35, while buyer traffic slipped one point to 21. In contrast, sales expectations for the next six months rose two points to 45. The latest HMI survey also highlighted deepening challenges: 39% of builders reported cutting home prices in September, up from 37% in August and marking the highest share since the Covid-19 pandemic. The average price reduction stood at 5%, a level unchanged since last November. Meanwhile, the use of sales incentives remained elevated at 65%, nearly steady from 66% in August.