WASHINGTON — Confidence among homebuilders stagnated in January, reflecting a lack of credit that threatens to hold back construction this year.

The National Association of Home Builders/Wells Fargo sentiment index registered a reading of 16, the same as the past two months and less than the median forecast of economists surveyed by Bloomberg News, data from the Washington-based group showed Tuesday. Readings below 50 mean more respondents said conditions were poor.

Developers Lennar Corp. and KB Home, which this month reported a fourth-quarter profit, are cutting costs and mounting foreclosures add to the supply of unsold properties.

At the same time, sales are projected to recover from last year’s post tax-credit slump, helped by falling prices and low borrowing costs.