The AVP Pulse Index this month dropped -0.2% month-over-month, while increasing +3.6% year-over-year; and +9.1% over the past 36 months.
After a small but unexpected bump upwards last month, the AVP Pulse Index retreated slightly for the month. Very small (+1.0%) gains in the Dodge Data Momentum Index and the NAHB/Well Fargo Housing Index, a nice increase in the Construction Backlog Indicator (+2.4%), and a slight but expected increase in housing prices from the S&P/Case Schiller National Home Price Index (0.4%), the rest of the indicators were all in negative territory… except for one. The Industry Stocks Average Price jumped a strong (+9.2%), reflecting Wall Street’s view that our industry will be largely saved from the tariff uncertainty, and that served to bolster the Index from a steeper fall.