Homebuilder Confidence Drops in January

Unusually severe weather combined with a shortage of available lots and labor led homebuilder confidence to fall ten points to 46, as determined by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The survey gauges current sales conditions, sales expectations in the coming six months, and prospective buyer traffic. Any index number below 50 indicates builders view conditions as poor rather than good. MHProNews.com has learned the survey has been conducted for the past 25 years. ##

(Image credit: housingwire.com/shutterstock–confidence deflated)

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