Adobe Stock/Greg Pickens

Builder confidence dropped a point to 75 in January, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released Thursday. Still, the last two monthly readings mark the highest sentiment levels since July 1999.

“Low interest rates and a healthy labor market combined with a need for additional inventory are setting the stage for further home building gains in 2020,” said NAHB Chairman Greg Ugalde.

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