by Calculated Risk on 6/29/2007 04:49:00 PM

Bank of America analysts Daniel Oppenheim, Michael R. Wood, and Michael G. Dahl, released a research note this morning:

BofA Monthly Real Estate Agent Survey
Buyers Take Their Time and Watch Prices Drift Lower

The analysts wrote:

"Another leg down in June as traffic and prices worsen further. Our traffic index fell to 21.9 in June (down 4.5 points from 26.3 in May), the lowest level since we started the survey."
underline emphasis in research note
Excerpted with permission

This fits my view that housing activity is continuing to decline.