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U.S. housing market index falls for 7th month in a row

The National Association of Home Builders (NAHB) of the United States has announced that the Housing Market Index fell 12 points to 55 in July. This is the largest decline since the survey began and the seventh consecutive month of decline.

The decline in the housing market index was fueled by concerns about inflation and a recession, including rising mortgage rates and construction costs. As a result, the sales confidence index for the next 6 months and the current sales confidence index have declined.

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