Dive summary:

• NAHB members surveyed for the July installment of the National Association of Home Builders/Wells Fargo Housing Market Index were feeling good about all three of the index's criteria, and the overall reading of 57 is as good as its been since January 2006.
• The index is a measure of how confident builders are feeling about business now and in the coming six months, and Chairman Rick Judson said he liked seeing "solid" increases in all four of the association's regions.
• The survey asks builders to label sales now as "good," "fair" or "poor," to use the same scale for how they expect sales to be in the next six months and to rate the traffic they are seeing from prospective buyers.

From the release:

“Builders are seeing more motivated buyers coming through their doors as the inventory of existing homes for sale continues to tighten,” noted NAHB Chief Economist David Crowe. ...