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The U.S. Housing Confidence Index
"Over the last three decades, we have learned a great deal about the dynamics of home prices. Our research shows that real estate values have enormous wealth effects, but the markets are inefficient, and are propelled by expectations of market participants. This housing confidence data is a critical input to our understanding of consumer behavior, and where real estate markets and the economy may be heading."

Karl "Chip" Case
   (1946 - 2016)
The U.S. Housing Confidence Index™ (HCI) was developed by Pulsenomics to effectively monitor and concisely communicate the pulse of the U.S. real estate market nationally and at individual metropolitan area levels.

Index Data (excel)
 Press Release
 July 2016 [Data Series, Index Change & Ranking Reports [ Link ]
 January 2016 [Data Seies, Index Change & Ranking Reports
[ Link
July 2015  [Data Series, Index Change & Ranking Reports Link ] 
 January 2015
[Data Series, Index Change & Ranking Reports
 [ PDF ]
July 2014
[ Index Change and Ranking Reports ]
 [ PDF ]
 January 2014
[ Ranking Reports ]
 [ PDF ]

HCI is based upon response data collected from The U.S. Housing Confidence Survey™. Unlike other real estate data, HCI reflect a systematic assessment of prevailing sentiment among both homeowners and renters concerning the metro area housing market where they reside.

HCI cogently summarize:
  • Assessments of current housing market conditions 
  • Short- and long-term expectations for future home value changes and home affordability 
  • Aspirations for homeownership 
"...these indices will add immeasurably to our understanding of housing markets, with unprecedented detailed information through time and across geographical areas. We have always been mostly in the dark about fundamental drivers of home prices–now that will change.”

Robert Shiller   Yale Professor, Nobel Laureate and Pulsenomics Honorary Adviser

Like familiar economic indices that gauge manufacturing activity, homebuilder confidence, and consumer sentiment concerning the broader economy, HCI summarizes underlying survey data via a weighted diffusion methodology. Calculated on a 0-100 scale, HCI values greater than 50 indicate positive sentiment, and index values less than 50 indicate negative sentiment.


  • An Overview: The U.S. Housing Confidence™ Survey and U.S. Housing Confidence™ Index

    Pulsenomics®, Housing Confidence Index™, Housing Confidence Survey™, and Home Price Expectations Survey™ are trademarks of Pulsenomics LLC.