NY TImes: Home Sales Increase, and So Do Inventories. Home sales perked up in July, a respite for the housing slump, as falling prices appeared to lure more buyers into the market. Skip to next paragraph Related National Association of Realtors News Release But the number of homes for sale increased significantly as well, which could push prices down even further. While lower prices could spur sales, they also cut into homeowners’ equity and household worth.
We haven’t seen the bottom in prices, not by a long shot, in most places. I’d still be very, very cautious about buying in any of these markets.