Homebuilders less confident in housing market

Homebuilders are losing confidence in the housing market now that government incentives that spurred home sales have ended.

The National Association of Home Builders said Tuesday its housing market index fell to 17 in June, sinking five points after two straight months of increases. It was the lowest level since March.

Builders had been more optimistic earlier in the year when buyers could take advantage of tax credits of up to $8,000. Those incentives expired on April 30, although buyers with signed contracts have until June 30 to complete their purchases.

Thanks to the credits, sales of new homes rose nearly 15 percent in April. That followed a …