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Bay Area Home Sales Dropped 23% in July

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Which is their lowest level in 15 years, San Diego-based MDA DataQuick, a tracking firm, reported Thursday. The firm said the drop from 8,771 homes in July of 2009 to 6,773 homes last month came as the market adjust to the end of federal tax credits for first-time buyers. The report went on to say that the further price deterioration could be coming, as potential buyers wait to see whether the drop in sales translates into greater discounts.
· Bay Area home sales drop 23 percent in July [SF Examiner]