Optimism among the nation’s home builders slipped in the first month of the new year as buyer traffic wained. Sill, the sector remains very optimistic about the rest of this year.

This month, the Housing Market Index came in at 72. The index reflects home builders’ perceptions of current buyer traffic, current sales and expectations for the next six months.

Although the index declined two points from the 18-year high reached in December, it was still five points higher than in January 2017.

Source: Mortgage Daily