Homebuilder sentiment fell to 57 in January from a revised 58 reading in December.
Expectations were for the reading to come in at 58, up from 57 last month.
December's report was a bit of a disappointment, as the reading unexpectedly declined, though sentiment overall remains near a 9-year high.
Following Tuesday's report, Ian Shepherdson at Pantheon Macro said, "In one word: Flat."
Shepherdson called the report more evidence that the trend in housing flat, and added that it seems the Fed has finally accepted that a robust economic recovery need to be accompanied by a booming housing market.
In a release, NAHB chief economist David Crowe said, "January’s HMI reading is in line with our forecast as we head into the new year. Steady economic growth, rising consumer confidence and a growing labor market will help the housing market continue to move forward in 2015."
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