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August 2nd, 2007 1:46 PM by David W. Welch
I was just checking on the July sales number today, and it looks like sales are in the 1,400 range, and the median price is probably going to settle out around the $250,000 mark again. I think the most positive news other than the stable prices is the stablization of the inventory of homes for sale.
Even though the foreclosures have picked up, they are still only a small percentage of the homes on the market. I really do not see them having a major impact on the market. Most of what is going on right now is tied up in the psychology of the buyers instead of the economics of the market place.