In July…..”inventories of single-family homes rose to the equivalent of a 9.2 months’ supply. From a year earlier, existing-home sales dropped 9 percent.
“We are very likely to see home sales continue to drop,” said Ethan Harris, chief economist at Lehman Brothers Holdings Inc. in New York, who accurately predicted the number. “There’s a big imbalance between supply and demand, with lots of people who want to sell and lots of hesitant buyers.” http://www.metrobostonnews.com/us/article/2007/08/28/03/1041-72/index.xml
