Our peach tree is studded with buds but none have bloomed except one. In fact, the buds would fall when I gently brushed them during a recent inspection. We were very excited for the day when the buds would open because we like how the blossoms look especially when the peach tree itself is not very attractive looking as is.
Searching on the world wide web for why the blossoms are not blooming helped to address our concern and confusion. The findings were enlightening and informative.
Apparently peach trees prefer soils that are not heavily fertile when it comes to blooming. We had added a half inch layer of compost a few weeks ago. Fertile soils promotes growth instead of blooming and fruiting.
Cold snaps or late spring frost when the tree has buds may cause the buds not to bloom. There were a few days that got chilly in early spring.
Peach trees like a sunny spot though we haven't moved the peach tree from the location since we placed it on the balcony last year. It bloomed last year though it may be because the buds were already established when I bought it.
If you have a similar problem with your peach tree you may find these links helpful.