Builder Confidence Drops One Point but Starts 2020 Strong

Builder confidence fell one point in January to a level of 75 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index.

Despite the slight drop, the past two monthly confidence levels have been the highest since July 1999, according to NAHB.

“Low interest rates and a healthy labor market combined with a need for additional inventory is setting the stage for further home building gains in 2020,” NAHB Chairman Greg Ugalde said in a statement.

Confidence levels above 50 are considered positive, according to NAHB.