Home sales continue to decline

Home sales continue to decline which is a sign of a troubling cycle in the housing market.The National Association of Realtors says sales of existing homes slipped by 1.8 % in June as home buyers faced a surge in prices and a shrinking number of properties available for sale, factors that have lead to flat sales for much of the past year. The decline is a sign of a troubling cycle in the housing market despite solid demand and a healthy economy, sales listings have been declining for two years which has caused prices to rise faster than wages, making it more difficult for people to build up their net worth by becoming homeowners.

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