When will the housing market rebound?
Sales of previously occupied homes plunged last month to the lowest level in 15 years, the National Association of Realtors said Tuesday. It was the largest monthly drop on records dating back to 1968, and sharp declines were recorded in all regions of the country.
Reasons cited for the drop include high unemployment, tightened lending standards and sellers who are reluctant to lower their prices paired with buyers who think the market has not yet bottomed out. The market had improved in the spring as the government offered tax credits, but those credits have expired.
When do you think the U.S. housing market will turn around?
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