Sales falling for existing homes.

[flippinout]

The sales for existing homes has fallen to the lowest since 1999. The sales have slipped by 27.2%.

The forecast for existing home sales by economists were expected to drop and that is exactly what has happened.

Summertime is when there are usually quite a few existing home sales, but not this summer. The sales have dropped this year.

A lack of jobs is one reason for the drop in the sales of existing homes, and the home tax credit now being gone is another reason sales have dropped.

Will the market recover. Personally, I think the biggest factor in the existing home sales recovering will be the addition of jobs so people can afford to buy them.