Well one of the unexpected realities of the June home sales being so low is that Lawrence Yun finally had no choice but to tell the truth. Yeah…it was that bad!

Sales of U.S. previously owned homes in June dropped less than forecast, sustained by a backlog of deals that will dry up when a government credit expires.

Purchases slipped for a second month, falling 5.1 percent to a 5.37 million annual rate, figures from the National Association of Realtors showed today in Washington. Transactions will be “very low” in coming months as the federal incentive ends, the group’s chief economist, Lawrence Yun, said in a news conference.

You see what old Larry is talking about is what’s coming down the road. You see he has the same data we do and what’s coming in the months ahead may spell doom for a ton of Realtors. You see while May and June may have been somewhat of a “soft landing”, July’s numbers are going to have people running for the exits.

But just when I finally find some credibility in Larry, I see this crap being said by the NAR prez. Vicki Cox Golder said softer home sales expected this summer don’t tell the whole story.

“Despite these market swings, total annual home sales are rising above 2009 and we’re looking for overall gains again this year as well as in 2011,” she said. “Conditions have become more balanced in much of the country, which is good for both buyers and sellers. However, consumers find it even more challenging to navigate the transaction process, especially for distressed properties, which only underscores the value Realtors bring to buyers and sellers in this market.”

This chick obviously hasn’t tried to buy an REO property or a short sale from one of her underlings. “the value Realtors bring”….well at least Larry’s off the hook. It seems the NAR has another Baghdad Bob as a mouthpiece. Does anyone wonder why Realtors have no credibility…geez.

Let me give you a peek into the despair that’s about to be reality. Thus far here in South Florida, with just a week or so to go in the month, sales are off almost 60%!!!

Did ya read that??? So when Larry from the NAR  said “very low’, I’m not sure even the most ardent Realtor is expecting the numbers to drop off like California into the sea when the big one comes.

Brace yourself folks. Ya better have your life jackets on as it will certainly be women and children first when July’s numbers come out.

If you’re an Investor then you need to get ready to take advantage of the amazing opportunities to buy some seriously discounted deals in the coming months. It’s going to be like Christmas coming early!