The real reason for the "rise" in home prices in July? A larger collapse in lower priced homes where the tax credit had a larger impact.
Everyone knew that Existing Home Sales were going to stink the joint up today — but I just had to laugh when I read the NAR commentary; The headline along was priceless: July Existing-Home Sales Fall as Expected but Prices Rise. Too bad they don’t cover other events: “Lincoln attends theater opening; leaves early with headache.”
They are the world’s most awesome/awful cheerleaders on the planet.
Nothing but "addition by the reduction of subtraction".