With low unemployment and a bustling economy, why are home sales struggling and continuing to fall for the sixth straight month?
U.S. home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy.
The National Association of Realtors said on Friday that existing home sales dropped 3.4 percent to a seasonally adjusted annual rate of 5.15 million units last month.
Home sales have now fallen for six straight months. A dearth of properties for sale has pushed up prices, sidelining many would-be homeowners. Sales dropped the most in the South and the decline in the West left sales there down 12.2 percent from a year earlier.