Graphic Source: MSNBC.com

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New home sales were down a surprising 12% last month to a seasonally adjusted annual sales pace of 276,600. We have to go back to 1963 to see a slower pace for new home sales.

If you would like more information here are a few links to articles:

• New York Times
• CNNMoney.com
• Housing Wire

According to the latest survey from the National Association of Home Builders and Wells Fargo, housing affordability is at record levels. As is typical in these kinds of analysis, the midwest fares much better than either coast.

You can see the complete slideshow and a description of the current state of housing affordability at: CNNMoney Housing Affordability.

The National Association of Realtors released their Home Price Survey information for the second quarter of 2010.

Accoding to the NAR Press Release:

In the second quarter, 100 out of 155 metropolitan statistical areas (MSAs) had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year 91 areas had higher prices, while only 26 MSAs experienced annual price gains in second quarter of 2009.

The national median existing single-family price was $176,900 in the second quarter, up 1.5 percent from $174,200 in the same period of 2009. The median is where half sold for more and half sold for less. Distressed homes accounted for 32 percent of second quarter sales, down from 36 percent a year ago.

NAR’s complete Second Quarter 2010 Survey Report is available here.

July’s Monthly Homes Sold Report has been analyzed and is now ready for your review. Click this link to see the full Monthly Sold Report for July 2010.

The effect of the Federal Tax Credit this past spring really showed up in the Homes Sold numbers for July. The number of sales was down substantially over June of this year, and not surprisingly, the total dollar value was also down.

The Northeast Cincinnati Analysis for July 2010 shows a 24.76% decrease in the number of homes sold over June 2010. Homes Sold in July 2010 was 79 and in June the number was 105. The yearly reduction was nearly the same with a reduction of 21.78% from July 2009 when Northeast Cincinnati Homes Sold was 101.

The total dollar volume also decreased. July 2010 total dollar volume as $24.81 million. July 2009 was $31.59 million. This shows decrease of 20.13% in total dollar volume since last year. Total dollar volume in June 2010 was $47.52 million.

Housing starts in the midwest — as tracked and presented by Federal Reserve Bank of St. Louis.