U.S. homebuilders may be reconsidering their bullish projections for a stronger housing recovery. A monthly survey of builder sentiment held steady in January, from a downwardly revised December reading.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) stands at 60, still in positive territory, but off its recent high of 65 in October. Fifty is the line between positive and negative.
"After eight months hovering in the low 60s, builder sentiment is reflecting that many markets continue to show a gradual improvement, which should bode well for future home sales in the year ahead," said NAHB Chairman Tom Woods, a homebuilder from Blue Springs, Missouri.