August '09

With kids back to school, it looks like the summer rally finally ran out of steam.



MLS inventory is still tight, but there are fewer buyers around, so prices will probably move sideways or decline somewhat in the upcoming months.

July Case-Shiller forecast is revised down to ~155 from 158 (last official read was 147.31). At this point, I can't give any firm predictions as to the August value, except to say that it'll most likely be in 156-159 range.