The Wall Street Journal reports that home sales for May dropped 3.8%. The housing slump will only be fixed, and see growth, when buyers start trading up instead of tradding down. As people continue to be weary about the market they continue to seek lower home prices and instead of "stimulating" the economy by purchasing a home, they are hurting the recovery for everytime someone buys down in home value it brings down the value of homes. So instead of trading down, homebuyers need to trade up to stimulate growth.
To read more about home sales follow the link: <http://online.wsj.com/article/SB10001424052702304070104576399481575600692.html?mod=WSJ_RealEstate_LeftTopNews>
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