September 2nd, 2008 7:53 PM by Karyn Smith
And comparisons with July 2007:
On the face of it, not much to cheer about of you’re a homeowner, particularly if you are trying to sell your home now. The only slight glimmer of hope is to be found in the decrease in inventory levels and increase in the number of homes under contract.
On the other hand, if you’re a buyer, especially a first-time buyer or an investor, then this could be the right time to buy. It all depends upon your assessment of whether the market has bottomed out or not.