IMHO, the low new (and existing) home sales numbers are due more to the lack of inventory than to a lack of buyers.
We’ve just experienced the steepest drop in home starts these past couple of years, and there is very little new inventory to sell.
It’s not the least bit surprising to see low sales numbers in an environment where new homes aren’t being built, and where existing home inventory is being kept off the market due to national policies that artificially constrain inventory.
