Home sales remain stubbornly low in the face of ongoing inventory shortages and high buyer demand, says Lawrence Yun, Chief Economist for the National Association of REALTORS. Yun says the “unbalanced” housing market is to blame for a decline in existing-home sales in September, with all four major regions of the country posting declines. Even low mortgage rates–which continue to hover near their historic bottom–hasn’t stopped home sales from cooling.
