Homebuyers Remain on the Sidelines

WASHINGTON -- The homebuying season was a bust.

March through August are typically the peak buying months. But this year, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago.

And sales of previously occupied homes didn't fare much better. They nearly matched 2009's total for the peak buying months. And that was the worst since 1997.