Its Worse in the West

Reading the fine print of today's existing home sales report by the National Association of Realtors.......

"Existing-home sales in the West dropped 6.8 percent in June to an annual pace of 1.10 million, and are 19.1 percent below a year ago. The median price in the West was $340,000, down 0.4 percent from June 2006."

Nationally sales of single family homes only fell 3.5% and the median home price actually rose 0.1%.