Housing Market Index Falls Below Expectation

WASHINGTON, DC-The National Association of Home Builders has reported that the housing market index in July has fallen by more than anticipated with the expiration of the federal tax credit.

By GlobeSt News Portal | July 20, 2010 at 01:01 AM

WASHINGTON, DC-The National Association of Home Builders has reported that the housing market index in July has fallen by more than anticipated with the expiration of the federal tax credit. The NAHB/Wells Fargo Housing Market index dropped by 2 points to 14 this month.

This is the lowest the index has reached since April 2009 and the second straight fall. Experts had anticipated the index to settle at 16. An index below 50 is considered a bad time for sales. For the full story, go to Reuters.

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