As Seasonal Peak in Home Prices Passes the Signs Point to Trouble Ahead. Recent Growth in Foreclosure Filings Suggest REO Inventories May Balloon in Coming Months.
In July, the 25-MSA RPX Composite price remained essentially unchanged on a month-over-month basis, but declined year over year for the 13th month in a row.
RadarLogic®, in it’s July 2011 RPX Monthly Housing Market Report finds that the 25-MSA RPX Composite price (housing values for 25 major U.S. metropolitan areas) for July 21, 2011, was $187.24 per square foot, just 0.3 percent below the value for June 21, 2011, and 4.7 percent below the value for July 21, 2010.
National Association of Realtors® reports that, unlike 
Total 
Business activity in the Fourth District expands but a slower rate since last report weighed down by weak Housing Market.
Sales of newly built, single-family homes declined 1 percent to a seasonally adjusted annual rate of 312,000 units in June, according to figures released today by the U.S. Commerce Department today.
The RPX Composite Price declined 5.9 percent in May relative to May 2010, according to the May 2011 RPX Monthly Housing Market Report released today by Radar Logic Incorporated. The rate of year-on-year decline has been accelerating since June 2010 and the rate as of May was the fastest observed since September 2009.
Home prices have now risen for four months in a row and sales transactions have risen for five of the last seven months, while the drop in sales prices from 2010 is smaller than it has been in the last three months. The June 2011 
According to RE/MAX Valley Real Estate’s 