The South is really not doing well and overall the NAHB   Homebuilders index is also suffering from total stagnation. While we are seeing a bit of improvement in the FUTURE index, the PRESENT index is stable at best. This is not what the markets are looking for at these levels. So, maybe next month…

U.S. Home Builders‘ Aug. Index Rises to 18: Summary (Table)

By Chris Middleton
Aug. 17 (Bloomberg) — Following is a summary of U.S. housing
activity from the National Association of Home Builders/Wells Fargo.
*T
===============================================================================
Aug.                   July           June           May       April             March             6 mo
2009                 2009             2009         2009             2009     2009               Avg.
===============================================================================
———————–Index——————–
Housing Market Index                           18         17         15         16         14           9         15
Single family sales: Present           16         16         14         14         12           8         13
Single family sales: Future             30         26         26         27         24         15         25
Prospective Buyers Traffic               16         13         13         13         13           9         13
——————Monthly Change—————-
Housing Market Index                             1           2         -1           2           5           0     n/a
Single family sales: Present             0           2           0           2           4           1     n/a
Single family sales: Future               4           0         -1           3           9           0     n/a
Prospective Buyers Traffic                 3           0           0           0           4         -2     n/a
——————-Yearly Change—————-
Housing Market Index                             2           1         -3         -3         -6       -11     n/a
===============================================================================
Aug.               July               June         May             April         March     6 mo
2009               2009         2009               2009       2009     2009         Avg.
===============================================================================
Single family sales: Present             0           1         -3         -3         -6       -12     n/a
Single family sales: Future               6           3         -1         -1         -6       -11     n/a
Prospective Buyers Traffic                 3           1         -3         -5         -6       -10     n/a
—- Prospective Buyers Traffic in New Homes —-
Regional HMI Northeast                       24         16         19         19         15           8         17
Regional HMI Midwest                           16         14         14         14         14           8         13
Regional HMI South                               18         19         15         18         17         12         17
Regional HMI West                                 17         14         15         12           8           5         12
===============================================================================
NOTE: The HMI and components are seasonally adjusted
Future refers to starts in next six months.
The survey is based on 474 builder respondents.

Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.