The nation's home builders continue to feel much better about their industry, but the dramatic gains seen through the summer and fall appear to be moderating.

An industry index measuring home builder sentiment in the single-family market rose two points in December, while November's five-point monthly gain was revised lower by one point.

The National Association of Home Builder's/Wells Fargo Housing Market Index now stands at 47; 50 is the line between positive and negative sentiment. The index stood at 21 in December of 2011.