On the heels of the sub-prime mortgage crisis within the United States, it seems that every time one looks at the news a new sector of the real estate industry has been affected in a dangerous and financially scary domino affect. Whether this is confirmation bias at work or an actual trend is best left up to the analysts, but what is definitely true is that the housing slowdown has now reached the very heart of the US real estate market, a place that was previously thought to be somewhat well insulated from the effects of the mortgage crisis.

The heart of the US market has always been resale homes, as these homes tend to circulate around communities in a way that really isn’t that relatable to the sub-prime mortgages that caused the real estate bubble to burst. However, with sales falling by 1% in April and record highs being recorded in the number of resale homes that have gone unsold, there can be no doubt that the housing slowdown has now permeated its way through the entire US housing market. Where things will go from here is anybody’s guess, but if you’re looking for the silver lining then perhaps it would be that things can’t really get that much worse.