Mark Pugh snatched a 91st-minute equaliser for the visitors as Forest were made to pay for spurning a host of opportunities both before and after Henri Lansbury had put them ahead with a spectacular 30-yard strike.
"I am proud, we did not underestimate Forest," said Howe.
"The way they play is excellent, they are a good side and for us to get anything here will hopefully be a big moment for us. They did not take their chances but we were able to take ours.
"I am frustrated because there is three points, against a big team, waiting for us out there. We will have to wait for another day.
"We are aware of how tough these fixtures were when they came out. This will give us a boost heading to Leicester now. This is a tough run but we are picking up points, which is important.
"We are a good side, we are adapting to this level. We can take huge confidence from this. We are moving in the right direction as a team, we are progressing well.
"You need to be at your best in this division."
Howe revealed that keeper Stephen Henderson, carried off in the first half, is feared to have sustained a bad shoulder injury.
"It looks a serious one," he said. "It looks like a dislocated shoulder. It is a shame for him because he has had to wait for his chance in the team. It is a big blow for him and us."
- Sports & Recreation
- Henri Lansbury