By Josh Mitchell | The Wall Street Journal
WASHINGTON—Home builders are expressing more caution but still believe the housing market is poised to pick up speed this year.
Builder confidence in the market for single-family homes slipped to 56 in January, down a point from a month earlier, the National Association of Home Builders said Thursday.
Despite the drop, the industry trade group said confidence remains “solid” after the index rose sharply in December. A reading above 50 means most home builders view conditions favorably.
Rising home prices, low mortgage rates and “significant pent-up demand” will boost the housing market this year, NAHB Chief Economist David Crowe said.
