Falling home prices

We already know existing home sales collapsed from May to June. The number of sales are reported but specific prices aren't known until closing typically months later.

June and July home sales typically don't close before August or even September and reports may lag until October or November.

Home sellers may feel the financial pinch when selling but if you're buying "up" this is a great opportunity as typically the higher the price the bigger the price reduction. 

And remember today's great interest rates.