This month's early home sales heads up for South FL
Anyway, the July figures (available here) show:
* Sales dropped 31.8% from a year earlier -- to 593 units in July from 869 in July 2006.
* For-sale inventory rose 7.8% YOY to 24,024 units from 22,295. At the current sales pace, that's good for about 38 months worth of inventory.
* The median home price dropped 5.8% YOY to $292,000 from $310,000.
We're now exiting the peak spring home selling season, and things still look weak. If you're trying to sell in this market, you have to be realistic and price your property right.