Of course, if you have been reading my blog, you knew this already!
Here is the article: link
Pending contracts have gone way down, implying prices will continue to drop. BUT missed in the article is one more dangerous sign for the market: an increasing percent of current contracts are investor purchases. MOST of these are flippers, rather than long term buy and hold investors, so a high percentage of these homes are merely sold temporarily, and are coming right back on the market anyways. I expect very serious downward price pressure by Fall.