(Reuters) - Home-builder sentiment fell more-than-expected in July to the lowest level in more than a year after a popular home-buyer tax credit expired in April, the National Association of Home Builders said on Monday.
The NAHB/Wells Fargo Housing Market index fell two points to 14, the lowest level since April 2009, the group said in a prepared statement. It was the second straight decline in the index.
Economists polled by Reuters had expected the index to fall to 16. June was revised lower to 16. A reading below 50 indicates more builders view sales conditions as poor than good. The index has not been above 50 since April 2006.
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