The National Association of Home Builders/Wells Fargo Housing Market Index, which measures builder confidence in the market for newly built single-family homes, moved up a point to 17 in March, the first increase in four months. A number below 50 indicates more builders view conditions as poor than good. David Crowe, NAHB’s chief economist, said the increase in optimism is due to improvements in the overall economy, which are expected to generate modest housing market gains this year. The component of the survey gauging sales expectations for the next six months was up two points and at its highest level since May 2010. More here.