It hopefully means the fed won’t be forced to de-value the dollar and holds the interest rate steady to combat inflation.
These were national numbers and read the fine print, sales were up compared to June but down 10% compared to July of 2006 (which was down from July of 2005). Median was up, average price down. What does it all mean? Nothing. To quote the great David Lereah’s book title “all real estate is local.”
July was also pre-credit crunch, pre-jumbo crunch. Things are changing so fast that the rear view mirror isn’t much help.
