The National Association of Home Builders (NAHB) released its housing market index for the U.S. on Tuesday. The NAHB housing market index declined to 57 in January from 58 in December. December's figure was revised up from 57. Analysts had expected the index to remain at 58.

A level above 50.0 is considered positive, below indicates a negative outlook.

The NAHB Chairman Kevin Kelly said that "steady economic growth, rising consumer confidence and a growing labor market will help the housing market continue to move forward in 2015".