The month of July saw a 22.8% DECREASE in the number of closed sales. This is the lowest number since February of this year. There is no doubt that the tax credit expiration has had a dramatic impact on this; however, if you removed the months where we had the tax credit in place, the numbers for July are fairly consistent with the prior months of 2010. This will be an important trend to watch … it means fewer homes are selling at a time when inventory is increasing. This could potentially mean that sellers have less control in today’s real estate market.
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