WHAT: National Association of Home Builders Housing Market Index, June WHEN: Monday 1000 EDT (1400 GMT) FORECASTS Reuters IFR Previous NAHB index 28 29 29 IFR COMMENTARY: "We don't see any movement in the NAHB HMI from May's 29 print, which was the highest in five years, and a surprise 5-point gain over April. The NAHB data have accelerated significantly faster over the last three quarters than any underlying sales figures, which we would ascribe largely to the slow decline in (seasonally adjusted) existing home inventory as well as record lows in new home inventory, which could be leaving new home supply tight in some markets. While new homes compete with existing home sales they are not completely perfect substitutes, so both sides of the inventory equation are important from the perspective of homebuilders." -- by Theodore Littleton of IFR Markets, a unit of Thomson Reuters.