Thursday, July 22, 2010

Home Sales Slowing

According to the Wall Street Journal and Yahoo Finance, the much hoped for and anticipated rebound of the housing market has stalled. Click on the title of this post to link directly to the article. While no single factor is identified as a major contributor to the problem, one notable cause cited in the article is the continuing high level of unemployment and the poor job market. On a brighter note, it has been reported by other news outlets that small to medium size employers are planning to hire new employees in the Fall. If this proves to be an accurate prediction, it could be expected that job growth in the third and fourth quarters might contribute to a spike in home sales in the fourth quarter and first quarter of next year. Hope springs eternal, or at least in the real estate industry, every Fall and Spring!

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