US home-builder sentiment slides to 17-month low in Aug

WASHINGTON, Aug 16 (BestGrowthStock) – U.S. home-builder sentiment
unexpectedly fell for a third straight month in August to its
lowest level in nearly 1-1/2 years, according to a survey on
Monday that pointed to a weak housing market.

The National Association of Home Builders/Wells Fargo
Housing Market Index slipped one point to 13, defying market
expectations for a rise to 15.

A reading above 50 indicates that more builders view sales
conditions as good than poor. The index has not been above 50
since April 2006.

The NAHB survey showed the current sales conditions gauge
for single-family home sales slipped one point to 14 in August,
the lowest level since June 2009. The sales expectations
measure for the next six months fell three points to 18, the
lowest level since March 2009.

The traffic of prospective buyers index was unchanged at
10.
(Reporting by Lucia Mutikani; Editing by Neil Stempleman)

US home-builder sentiment slides to 17-month low in Aug