01/19/2016 10:07 EST | Updated 01/19/2017 00:12 EST

US home builder confidence held steady in January

WASHINGTON — Confidence among U.S. home builders held steady in January even though builders' expectations about future sales dipped slightly.

The National Association of Home Builders/Wells Fargo builder sentiment index stood at 60 in January, matching the December reading.

The index has been hovering in the low 60s for a number of months. Readings above 50 indicate more builders view sales conditions as good, rather than poor.

The home builders association is forecasting modest growth for housing this year.

Martin Crutsinger, The Associated Press