Builder confidence in the market for newly built, single-family homes fell one point to 56 in January from a revised December reading of 57 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
"Following an unexpected jump last month, builder confidence has essentially leveled out and is holding at a solid level," said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. "Many markets continue to improve and this bodes well for future home sales."