Looks like the overall economic picture hasn't changed much this summer... unchanged unemployment rate, tepid Q2 GDP, falling June existing home sales, etc... though I have yet to really digest all the data series in detail to fully absorb the latest trends.
One thing I can say with certainty though... home sales activity has peaked for the year as the seasonal factors (lower demand for single family homes post-summer heading into new school year) begin to sink in resulting in reduced sales until mid-November where sales will dramatically slow until the beginning of the next selling season in the Spring of 2013.
Tomorrow's S&P/Case-Shiller home price index should continue to capture generally rising prices, a trend that is likely to remain until the slower Fall and Winter sales begin to influence the data.
