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Housing Data This Week Includes the NAHB Index, Pending Home Sales & More
Home Depot Beats Slightly This Morning, TOL After the Close
NVIDIA Reports Earnings Tomorrow Afternoon
Tuesday, May 19th, 2026
Pre-market futures are off their early-morning lows, but still trading lower than Monday’s close. We’re already riding the worst two-session streak for tech stocks (Nasdaq and S&P) since last October. Currently, the blue-chip Dow is -89 points, -0.18%, the S&P 500 -23, -0.32%, the Nasdaq -166, -0.57%, and the small-cap Russell 2000 -13 points, -0.49%.
Spot oil prices continue to tick higher this morning — $108 per barrel (/bbl) on WTI and $110/bbl on Brent crude — as the world awaits the next step the the Iran War, which is entering its 12th week. This is already 2x or 3x longer than initially suggested. Meanwhile, bond yields are pushing higher, as well: +4.617% on the 10-year and +4.080% on the 2-year.
Data on Housing Formation Gathers Quietly
Without much fanfare, at least compared to a normal “Jobs Week” or “Mag 7” earnings week, Housing data is making it way into the economic discourse this week. Yesterday, we saw the latest NAHB Homebuilders Confidence, for May, coming in 3 points higher month over month to 37, but still well off the 50-threshold. This was the 25th straight month below that level which determines growth. Nearly 2/3rd of homebuilders used sales incentives for the month, and 32% lowered asking prices.
After today’s open, Pending Home Sales for April get released, expected +1.0% from the prior month’s +1.5%. This would be the third month in a row of positive home sales growth, after three of the previous five months of negative headline numbers. Year over year, we’re at four-straight down-months, lower in six of the past seven.
Thursday morning, we’ll see new Housing Starts and Building Permits, also for April. New starts are expected to fall to 1.42 million seasonally adjusted, annualized units from 1.50 million in March, while new permits — something of a proxy for future starts — look to tick up slightly to 1.39 million units from 1.37 million the prior month.
Earnings Reports at a Glance: HD & More
Speaking of housing, Home Depot (HD - Free Report) reported Q1 results this morning. It beat on the bottom line by 3 cents per share to $3.43 (though off the $3.56 per share pace from the year-ago quarter), while revenues of $41.77 billion came out slightly of estimates by +0.67%. This makes three quarters of the last four higher on revenues. The “core shopper remains resilient,” is the message from the company’s top brass; full-year guidance was affirmed, but shares are -$0.70 on the news. For more on HD’s earnings, click here.
After today’s close, we keep the housing narrative open, albeit on the luxury side: Toll Brothers (TOL - Free Report) reports fiscal Q2 numbers this afternoon, expecting -26.3% earnings growth year over year, on -12% in revenues. Fast-casual restauranteur CAVA Group (CAVA - Free Report) is expected to come in -22.7% on earnings year over year, but +26.4% on revenues. NVIDIA (NVDA - Free Report) reports after the close on Wednesday.
View the Zacks #1 Rank List
Image: Bigstock
Housing Data Enters the Chat: NAHB, HD, TOL
Key Takeaways
Tuesday, May 19th, 2026
Pre-market futures are off their early-morning lows, but still trading lower than Monday’s close. We’re already riding the worst two-session streak for tech stocks (Nasdaq and S&P) since last October. Currently, the blue-chip Dow is -89 points, -0.18%, the S&P 500 -23, -0.32%, the Nasdaq -166, -0.57%, and the small-cap Russell 2000 -13 points, -0.49%.
Spot oil prices continue to tick higher this morning — $108 per barrel (/bbl) on WTI and $110/bbl on Brent crude — as the world awaits the next step the the Iran War, which is entering its 12th week. This is already 2x or 3x longer than initially suggested. Meanwhile, bond yields are pushing higher, as well: +4.617% on the 10-year and +4.080% on the 2-year.
Data on Housing Formation Gathers Quietly
Without much fanfare, at least compared to a normal “Jobs Week” or “Mag 7” earnings week, Housing data is making it way into the economic discourse this week. Yesterday, we saw the latest NAHB Homebuilders Confidence, for May, coming in 3 points higher month over month to 37, but still well off the 50-threshold. This was the 25th straight month below that level which determines growth. Nearly 2/3rd of homebuilders used sales incentives for the month, and 32% lowered asking prices.
After today’s open, Pending Home Sales for April get released, expected +1.0% from the prior month’s +1.5%. This would be the third month in a row of positive home sales growth, after three of the previous five months of negative headline numbers. Year over year, we’re at four-straight down-months, lower in six of the past seven.
Thursday morning, we’ll see new Housing Starts and Building Permits, also for April. New starts are expected to fall to 1.42 million seasonally adjusted, annualized units from 1.50 million in March, while new permits — something of a proxy for future starts — look to tick up slightly to 1.39 million units from 1.37 million the prior month.
Earnings Reports at a Glance: HD & More
Speaking of housing, Home Depot (HD - Free Report) reported Q1 results this morning. It beat on the bottom line by 3 cents per share to $3.43 (though off the $3.56 per share pace from the year-ago quarter), while revenues of $41.77 billion came out slightly of estimates by +0.67%. This makes three quarters of the last four higher on revenues. The “core shopper remains resilient,” is the message from the company’s top brass; full-year guidance was affirmed, but shares are -$0.70 on the news. For more on HD’s earnings, click here.
After today’s close, we keep the housing narrative open, albeit on the luxury side: Toll Brothers (TOL - Free Report) reports fiscal Q2 numbers this afternoon, expecting -26.3% earnings growth year over year, on -12% in revenues. Fast-casual restauranteur CAVA Group (CAVA - Free Report) is expected to come in -22.7% on earnings year over year, but +26.4% on revenues. NVIDIA (NVDA - Free Report) reports after the close on Wednesday.
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