Analyst says of new data: 'Pop goes housing bubble': "WASHINGTON - Annual existing home prices declined in August for the first time in more than a decade as sales fell for a fifth straight month.
The year-over-year drop in median sales prices represented a dramatic turnaround in fortunes for the once high-flying housing market, which last year was posting double-digit price gains.

'Pop goes the housing bubble,' said Joel Naroff, chief economist at Naroff Economic Advisors. He predicted prices will fall further as home sellers struggle with a record glut of unsold homes."