Home sales collapse means what for MMSD?

Existing home sales fall for fifth straight month, reports MSNBC.
Though the article reports that Midwest sales have not been hit as hard as other regions, what are the trends for homes in the MMSD?
If home sales slow, does the MMSD need a new West side school at this point in time?
It’s easy to predict a contraction of outlying areas in coming years as high fuel prices (gasoline, heating oil, natural gas) pull people closer to central cities. This possibility also could reduce growth on the fringes of the MMSD — both east and west.