Preliminary numbers showed a drop in sales as expected for this time of year. However that leaves us about the same as June where sales were terrible. I added the final numbers to the chart as well.
Seasonally adjusted sales are at a similar rate as the worst six months of the financial crisis. I estimated July sales to be 1378, or 6.5% higher than the preliminary number.
New listings fell as in July and inventory declined from 9,406 to 8,892. This can be expected but the decrease was more pronounced than usual for the month.
Sales to new listings ratio remains low but improved slightly due to the decrease in listings. The market conditions are beginning to show up in price with the SFH median falling to $360,000, down $10,000 from May.