The numbers are getting worse on home sales, reports USA Today. The National Association of Realtors has put out its latest monthly numbers for June and they show falling sales and a bigger and bigger stock of unsold homes.

In fact, it’s the biggest since 1997. There is now an 8-month supply of condos and a 6.8-month supply of single-family homes nationwide. With that backlog, Realtors are at last admitting that prices will fall.

Of course, that’s an average across the country and things might be stronger here but slower and lower sales anywhere else will ripple across the Las Vegas market because there are less buyers, or at least buyers with less money, who will be buying here.

“Prices got too high in some local markets,” NAR Chief Economist David Lereah tells the paper. “So you’re seeing two things occur: Investors are leaving quickly and regular home buyers are staying on the sidelines, postponing sales.”

And that may mean sellers will have to offer incentives like lower prices to get buyers back into the game. This is about existing homes but that is hurting new homes sales as well. Pulte recently advertised a six-month delay before payments are due to entice owners who need to sell before they can move and people who get nervous about paying two mortgages at the same time - like most buyers.

The real shock is the 17 percent plunge that June home sales in the West took compared to 2005. Now some of that drop off can be attributed to an overly hot market last year but this region has generally been doing better than other parts of the country because things have stayed strong in population centers in California, Arizona and Nevada. The NAR economist says that some of the cities that were once hot are losing business and cheaper cities were exeriencing higher sales. Hope that doesn’t mean everyone’s moving.