Business Week - "A Cool July for Housing" (8-23-06)

"July's housing reports show the fourth straight monthly decline in home sales and a surge in inventory. That equals a lot of unsold homes."

"Prospects for the U.S. housing market took a turn for the worse on Aug. 23, with the release of a government report that showed existing home sales had tumbled 4.1% in July to a 6.33 million unit annual pace. That is from a revised 6.6 million rate in June (from 6.62 million previously). The July figures represent the fourth straight monthly decline and leave home sales more than 11% lower than the year-ago figure."