"The sales of existing single-family homes jumped 3.1% in July due to strong sales in markets that previously have seen substantial price declines, such as Ft. Myers, Fla., Sacramento, Calif., and Las Vegas."

Why do you think this is so????   Finally home prices in this area dropped to what they should be.  Buyers knew these were prices that would probably not drop much more in the near future because they were priced at the assessed value and the buyers jumped in - thus creating a glut of sales - Homeowners in other areas of the country should learn from this...