Record number of houses for sale

REUTERS/Jeff Haynes

The National Association of Realtors reported today that inventory of houses for sale rose to a record 4.67 million in July the median home price declined 7.1% from a year ago to $212,400. The recent housing boom proved to be overheated after being driven by the Emtional Peak in 2000-2001 that received a zealous boost with the Physical High 1999-2013. Unfortunately, this led to over-speculation in real estate.[1. Source: Reuters.com.]