Builders Confidence Drops Slightly in January but Remains High

The latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly-built single-family homes moved 1-point lower in January, to a reading of 75. The last 2-monthly readings mark the highest sentiment levels since July of 1999. Any reading over 50 indicates that more builders view conditions as good rather than poor.

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