US housebuilder confidence nudges down in December

The National Association of Home Builders/Wells Fargo housing market index nudged down one point to 61, a touch below estimates for a reading of 62 but comfortably above the 50 threshold that indicates improvement.

“For the past seven months, builder confidence levels have averaged in the low 60s, which is in line with a gradual, consistent recovery,” said NAHB chief economist David Crowe.

“With job creation, economic growth and growing household formations, we anticipate the housing market to continue to pick up traction as we head into 2016.”

The component gauging current sales conditions dropped one point to 66, while the index charting buyer traffic dropped two points to 46.