Dec. final numbers showed sales down 12% from 2007. Also important, 7.9% more homes Closed in Dec than went under contract in Nov. The question would be whether these are sales that would have closed in Nov or Jan.
December final numbers ended up with a reasonably strong showing compared to preliminaries.
There is still a long way to go. 6 months of supply is considered balanced. No matter how you slice it we are 2-3 times that.