U.S. home builder mood dips, but up in West - Portland Business Journal:

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The / Housing Market Index declined one point to 15 in but rose two pointse in the Western regionto 14. “The outloo for home sales has improved somewhat inrecengt months, due largely to implementation of the first-time home buye r tax credit and gains in housing affordability,” said NAHB Chairman Joe a home builder from Okla. “However, looking forward, home builders are facing a few including expiration of the tax credit at the end of a recent upturn in interest and especially the continuing lack of credi t for housing production Two out of three ofthe HMI’s componen indexes were unchanged in June, including the index gaugingv current home sales, which held at 14, and the indexd gauging traffic of prospective which held at 13.
Meanwhile, the indexs gauging expectations for the next six months declined asingle point, to 26. The nationalk decline was driven entirely by builders in the which isthe nation’s largestg housing market. There, the HMI declinef 3 points to 15, while the rest of the regionssposted gains. In addition to the gain in the West, the Northeastf had a one-point gain to 20 and the Midwest showeda one-poing gain to 15.