While new-home sales were at their highest point for 2014 in October, the overall housing market is still underperforming in the eyes of many analysts.
The National Association of Realtors notes that sales are below last year’s pace by 1.7 percent, while the National Association of Home Builders projects that 990,000 new units will be built this year—well below the 1.3 million annual average from 2000-2003. Analysts attribute the slow growth to young people not forming new households and builders still gaining confidence in the market.
