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The Bubble Cloud Lifts; Let There Be Light

Don't like the housing outlook? Wait 5 minutes.

The nation's long housing boom appears to be losing steam...Often the fastest-growing region in recent years, the West last month experienced the biggest drop in number of homes sold - 7.5 percent - and prices in the region were flat. -Vikas Bajas, NYT, August 24, 2005

Sales of new homes rose at an unexpectedly brisk pace in July, the government reported today, appearing to contradict signs of a slowdown in another housing report released Tuesday. A big increase in the West drove new home sales up 6.5 percent in July, as median prices fell 7.1 percent, according to the Commerce Department. -Vikas Bajas, NYT.com, August 24, 2005

· New Home Sales Rise for July, Fueled by West [NYT]
· July Slowing of Home Sales Stirs Talk of Market Peak [NYT]