By all rights home sales in the U.S. should be booming, but they are not. Oh sure, real estate agents are busy and there’s no shortage of potential buyers. There just aren’t quite enough actual buyers right now in light of how well the economy is doing. Sales of previously owned homes, for instance, have fallen three straight months. And they are basically flat compared to one year ago. Similarly, sales of newly built homes have tapered off after reaching a 10-year high in March. The sales outlook isn’t looking great for September, either. New and existing home sales could fall again, hurt in part by hurricanes that disrupted large swaths of the South, the nation’s fastest growing region.
Source: Market Watch