The attached article states that new home sales dropped by 33% in May and there was also a 2.2% drop in sales of previously occupied homes. This does not bode well for those attempting short sales, or for anyone trying to sell their home for that matter.
The tax credit is gone and people, seeing the foreclosure mess, think twice about strapping themselves in to a mortgage no matter how great the price might be.
We have not been back to the old neighborhood since we moved out. I wonder at times about the row of homes where our old house is, all for sale or foreclosure; unless an investor happens along they will probably sit there a long time.