Later this morning the local Realtors associations will be releasing home sale data for the Twin Cities metropolitan area.

Though I haven't seen the numbers yet, I'm certain we'll see more of the same: Declines in the median sale price and an increase in pending sales compared with last year's EXTREMELY dismal June (nobody was buying anything in the post tax credit summer months).

The weekly reports I get suggest that sellers are putting plans on hold, causing inventory levels to fall rather dramatically.

The upshot? We'll see big declines in the number of houses on the market - good news for sellers, bad news for buyers - especially buyers who aren't interested in a foreclosure or short sale. Check back later this morning to see if I'm right....

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Just Listed: Once a wedding gift, now on the market for $3.9 million.

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Home buyers hit the pavement last month