Sales in July were similar to past months. The total number of active listings declined again but not as much as previous months. Foreclosures are down quite a bit but you really can’t make judgments on just one month. You need top watch for trends.
I’ve been saying all year long that the big news is that the number of active listings is declining. To illustrate that point I looked back to my August 2010 market report and there were 5,464 active listing 12 months ago.