The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for newly built, single-family homes. In December, the index improved for the third straight month and reached its highest point since May 2010. David Crowe, NAHB’s chief economist, said it was the first time that builder confidence has improved for three consecutive months since mid-2009, signifying a legitimate, though slowly emerging, upward trend. Each of the three component indexes registered gains in December, with the component gauging traffic of prospective buyers up three points to its highest level since 2008. Builder confidence was strongest in the south, where it rose four points. More here.