Builders are a little less confident than last month, but they are still riding high.
MarketWatch reports that the sentiment index from the National Association of Home Builders dropped two points to 67 in January. Economists had predicted a score of 69 for the month.
The index is not a disappointment, though. A score above 50 indicates improving conditions, and December’s index was the highest since the apex of the housing boom in 2005. January’s index will settle for second-best.
While not as euphoric as in December, builders are still “optimistic that a new Congress and administration will help create a better business climate for small businesses, particularly as it relates to streamlining and reforming the regulatory process,” NAHB said in a statement.