By Steve Goldstein
WASHINGTON (MarketWatch) -- A gauge of builder confidence for new single-family homes inched upwards in November but remained in depressed territory, according to data released Tuesday. The National Association of Home Builders/Wells Fargo housing market index rose to 16 from a downwardly revised 15 reading in October. Economists polled by MarketWatch had expected a 16 reading, and the October data originally showed a reading of 16. The seasonally-adjusted index shows a reading of over 50 when more builders view conditions as good than poor - which hasn't been the case since April 2006.
