The National Association of Homebuilders (NAHB) announced on Tuesday its
housing market index (HMI) fell to 83 in January 2022 from 84 in December 2021.
This marked the first monthly decline in the homebuilder confidence in four months.
Economists had expected the HMI to remain at 84.
A reading over 50 indicates more builders view conditions as good than
poor.
Two of three HMI components demonstrated declines in early January. The component
measuring traffic of prospective buyers decreased and the gauge charting sales
expectations in the next six months both dropped 2 points to 69 and 83 respectively.
Meanwhile, the indicator measuring current sales conditions remained unchanged at
90.