From the Desk - Economic Commentary
Scott Goedken, Director of Institutional Strategies - 8/17/2026
U.S. equity markets are mixed this morning as investors begin a week that includes several housing and manufacturing reports. Treasury yields are little changed following last week's inflation data, while major indexes continue to trade near record levels. Market participants are also looking ahead to upcoming economic releases including housing starts, building permits, industrial production, and pending home sales, for additional insight into economic activity.
The NAHB/Wells Fargo Housing Market Index remained at a subdued level in August, reflecting continued softness in builder sentiment. The index was unchanged at 34, matching expectations and remaining well below the neutral level of 50. Current sales conditions held at 37, while the sales expectations component slipped to 42 from 43. Prospective buyer traffic improved modestly to 24 from 23.
The survey also showed that 36% of builders reduced prices during the month, down from 37% in July. The average price reduction remained at 6%, while 62% of builders reported using sales incentives, down slightly from the prior month.
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