NAR June Sales Report – National Assocation Of Realtors Home Sales Data

* 5.1% Decrease in home sales.
* $183,700 Medium Price
* Inventory UP 2.5%..nearly 9 month supply of homes…NAR reports as VERY HIGH.
* NAR, expects a continued INCREASE in inventory. Agents, this will drive prices down even further. NOTE: Any of you still doubting a housing double dip, doubt no longer.
* Distressed sales, 32%…short sales increasing. Of all the sales in June 1/3 were..Short Sales and REOs.
* First time buyers, 43% of ALL Sales.
* Cash Buyers, 25%. of ALL Sales.

Here is the CNBC Video: