Housing Sales Drop, Bright Future Ahead?

The Washington Post has informed me that sales of previously-owned homes dropped to their lowest levels in July.

That's good news to people like me who don't understand the housing market but would like to someday own a home. Housing prices will magically drop soon, right? I'll be able to buy a starter home before I'm 45 like my parents did, right?

No?

It just means the economy will go to shit? Great. I guess I'll just rent one of those fancy condos once all those developers realize they won't be able to sell them.