Today’s report on home builder sentiment from the NAHB was one of the first economic data reports that doesn’t cover Q1 of 2015, and hopefully it’s the beginning of a new trend. While economists were expecting a level of 55, the actual reading came in at 56, which was up four points from March’s reading of 52. As shown in the table to the right, in addition to the improvement in the headline index, Present Sales, Future Sales, and Traffic all increased this month. On a regional basis, we also saw improvements in three out of four regions. The fact that the Northeast saw the largest improvement of any region lends some credence to the fact that weather has been an issue behind the weak first quarter data we have seen, but we will need to see more confirmation of that in the days and weeks ahead.