Decent Dwellings

While existing home sales are down 5.3% year-over-year, recent sales numbers are really pretty good. Inventory is up 4.5% year-over-year and cash sales are at their lowest level since 12/09. More importantly, non-distressed sales are almost exactly the same as they were 12 months ago because distressed sales fell from 12% to 8%. Lastly, median sale price is up just 4.8% year-over-year, which suggests house price increases are slowing substantially