U.S. Housing Market Index Declines

The U.S. Housing Market Index declined this month to 81 from its reading of 83 in May, data by the National Association of Home Builders showed on Friday.

The reading comes below market expectations of maintaining the same level of last month.

The gauge of home sales for the coming six months also decreased to 79 from 81 in the month before.

The index of single-family home sales registered 86, down from 88 in May, while the prospective buyers’ index decreased 71, compared with 73 in May.