Busy week with both sales and home price reports. New home and existing home sales were nothing to write home about, however. One increased, the other was down, and neither really moved much at all. Existing home sales finally bore out the predictions from the previous three months of shrinking pending home sales data, while new home sales pulled out a slight gain.

To no one’s surprise, home prices continue to set new record levels. The rates of increase in the West were especially strong.