home sales in July up 27%. Inventory elbow to 12.5 months from 8.9 in June. 8 months is often cited as a number of balance, then a downward pressure on prices begins. Physical inventory increased only slightly, so the big jump in supply should be months of falling sales. http://www.calculatedriskblog.com/2010/08/existing- home sales lower-from-1996.html means more [...]

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