The U.S National Association of Homebuilders/Wells Fargo released the latest index of housing market for December, where the housing market index picked up for the third month in a row to 21, the highest since May 2012, compared to the downwardly revised 19 the past month and median estimate of 20.

Though the housing market Index have been advancing since October, readings below the 50-cut suggest that most home builders see housing conditions weaker than favourable, but based on a series of gains registered over the past several month, we can assume the recovery of housing marekts are moving on a faster pace so far.