[Moneyguy1]

Associated Press article today (May 16) includes amap of home sales for the first quarter of this year. Nevada down over 20%, Arizona and California/Mew Mexico/Utah 10% to 20%, Colorado up 0% to 10% to name a few. "Sales in Arizona fell 14.3%, to about 140,000, according to the NAR." The NAR report came out on the same day that Realty/Trac Inc., an industry research firm, said mortgage lenders foreclosed on 62 percent more U.S. homes in April than a year ago. They said: "We expect foreclosure activity to at least stay above last year's levels for the remainder of 2007, fueled by a combustible mix of risky loans taken out in the past few years-many in the sub-prime market-and slowing home price appreciation." Median home prices are 1.8% lower than a year ago when the median price was $216,100 (NAR quarterly survey of housing market conditions)