After eight straight months of gains, builder confidence remained stalled and remained flat in January according to the National Association of Home Builders (“NAHB”).

The NAHB-Wells Fargo Housing Market Index was 47 for the month of January, which is its highest level since April of 2006. The rating did show an improvement in the amount of prospective buyers entering the market. However, the Index showed no improvement in current sales conditions and builder’s expectations for home sales in the next six months.