U.S. Builder Confidence Down in January
U.S. builder confidence for new single-family homes in January fell 2 points to a level of 67, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
All three HMI indicators declined with the component gauging current sales conditions down 3 points to 72, sales expectations in the next six months falling 2 points to 76 and the index measuring buyer traffic dipping 1 point to 51.
Derived from a monthly NAHB survey, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months. Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good rather than poor. See NAHB