Falling Home Prices Fail to Spur Buying

(TheStreet) -- Falling home prices aren't enticing Americans to buy up new property. The government's latest read on new-home sales in September came in a little better than expectations, but offered no reason to get excited about a rebound in the housing sector. The report reflected a troubling trend that Americans are reluctant to invest in new homes amid a weak economic backdrop. New home sales jumped 5.7% to 313,000 from a revised 296,000 in August, according to the Commerce Department. The consensus estimate was for 300,000 units, according to Reuters.

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