The index of the American Association of housing companies has fallen to its lowest level since April 2009. Low demand, an uncertain job market and a strong mortgage market strain on the housing market. This leads to less houses for sale being offered to private buyers.
The index of the National Association of Home Builders (NAHB) decreased in July to 14 points from the previous 16 points. The previous month was revised up by one point down. Economists had expected a value of 16 points.
