Home builder confidence in the market for new single-family homes was down a point, to 56, in January 2014, from a revised mark of 57 in December, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
NAHB Chairman Judson said December saw an "unexpected jump" in builder confidence and that confidence was holding at a solid level.
The monthly NAHB survey measures builder perceptions of current single-family home sales and sales expectations for the next six months as Good, Fair, or Poor. Builders also rate traffic of prospective buyers as High to Very High, Average, or Low to Very Low. Scores are used to calculate a seasonally adjusted index; an index over 50 indicates more builders see conditions are Good than those who see it as Poor.
All three HMI components were down in January. The index measuring current sales conditions were down a point to 62. The index of expectations for future sales was down 2 points to 60. The index of traffic of prospective buyers was down 3 points to 40.
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