Dive summary:

• The National Association of Home Builders' monthly calculation of industry confidence edged up a point to 41 this month, which is a good as it's been since June 2006.
• The overall Housing Market Index was lifted by a step up to 35 out of 100 in what builders are saying about traffic from serious potential buyers, the association said. The other two components – current sales conditions and sales prospects for the next six months – were the same as September: and 51, respectively.
• The way the index, which has been compiled for a quarter-century, works is that a numb er under 50 means more of those surveyed are pessimistic than optimistic, and anything over 50 means optimists are in control.

From the release:

Builder confidence in the market for newly built, single-family homes edged slightly higher for a sixth consecutive month in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). ...