Confidence among U.S. home builders held steady in January even though builders’ expectations about future sales dipped slightly.
The National Association of Home Builders/Wells Fargo builder sentiment index stood at 60 in January, matching the December reading.
The index has been hovering in the low 60s for a number of months. Readings above 50 indicate more builders view sales conditions as good, rather than poor.
The home builders association is forecasting modest growth for housing this year.