Dive summary:

• House prices are continuing to climb, but maybe that slope is leveling off and inventory is catching up with demand.
• Movoto Real Estate looked at the price per square foot of houses in June, July and July 2012, and it found that the median price in July was 14.9% over the year-before median, but there was no change from June to July this year.
• The company suggests that too-tight credit is keeping the number of buyers in check while increased building and offers of existing homes are beginning to have inventory catch up with demand and take some pressure off prices.

From the article:

Currently, the real estate market is mixed, the report suggests. While sellers would be smart to list their homes in order to take advantage of the increase price per square foot, homebuyers would be wise to keep an eye on the monthly change in list price per square foot.  ...