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The / Housing Markert Index declined one point to 15in June, but rose two pointx in the Western region to 14. “The outlooo for home sales has improved somewhag inrecent months, due largely to implementation of the first-time home buyer tax credit and gains in housing affordability,” said NAHB Chairman Joe a home builder from Tulsa, Okla. looking forward, home builders are facing a few including expiration of the tax credity at the end of a recent upturn in interest and especially the continuing lack of credit for housinhgproduction loans.
” Two out of thre e of the HMI’s component indexes were unchanger in June, including the indezx gauging current home sales, which held at 14, and the indedx gauging traffic of prospective buyers, which held at 13. the index gauging expectations for the next six months declines asingle point, to 26. The national declinr was driven entirely focused by buildersd inthe South, which is the nation’s largest housin g market. There, the HMI declinexd 3 points to 15, whilw the rest of the regions posted In addition to the gain in the the Northeast hada one-point gain to 20 and the Midwest showed a one-point gain to 15.
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