Builder Confidence Unchanged in January

Washington, DC, Jan. 16, 2013 -- Builder confidence in the market for newly built, single-family homes was unchanged at 47 in January, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

This means that following eight consecutive monthly gains, the index continues to hold at its highest level since April of 2006.

“Conditions in the housing market look much better now than at the beginning of 2012 and an increasing number of housing markets are showing signs of recovery, which should bode well for future home sales later this year,” said Barry Rutenberg, NAHB chairman.

The index’s components were mixed in January. The component gauging current sales conditions remained unchanged at 51. Meanwhile, the component gauging sales expectations in the next six months fell one point to 49 and the component gauging traffic of prospective buyers gained one point to 37.

Readings over 50 indicate more builders see conditions as good than poor.

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