All three components of the National Association of Home Builders Housing Market Index improved in December. The three index components, which measure current sales conditions, sales expectations, and traffic of prospective buyers, are scored on a scale where any number above 50 indicates more builders view conditions as good than poor. According to the most recent release, the current-sales component jumped six points to 64, while the index measuring expectations for future sales rose two points to 62 and traffic of prospective buyers increased three points to 44. David Crowe, NAHB’s chief economist, said the recent spike in mortgage rates has not deterred consumers, as rates are still near historically low levels. Crowe believes this month’s gain is due, in part, to the release of pent-up demand caused by the uncertainty surrounding October’s government shutdown. Overall, builder confidence in the market for newly built, single-family homes improved four points to a reading of 58. More here.