[Toddsterpatriot]

That's a completely phony statistic since most sellers are still in denial

The only sellers included in that statistic are sellers who have sold. So how is it phony?

[AmericaUnited]

Do you understand that if you try to sell Bic pens for $10 each and only sell 1, when normally you would sell 5 cases at lower prices, that is a phony price?

home sales plummeted in 38 states

When sales pick up again to 'normal' levels, that is when you can make a fair assessment of how much prices have fallen/risen.

[stainlessbanner]

I have not seen a major drop in prices yet - sellers are still holding on to their hopeful selling price. In the meantime, houses are sitting on the market longer, and sellers are looking for incentives to entice buyers (upgrades, extras, etc).

Prices will drop in highly inflated regions next year.