Price Decline

It looks as if the five-year boom in housing is about over in some places around the country. There aren't as many buyers in those areas in which homes went up so high.

Robert Dye, analyst with Economy.com, said areas where housing soared the most are the ones most likely to see outright price drops in the months ahead. Among the areas where he sees a "risk of correction" are the Washington area, California, Florida and Arizona. (Washington Times, July 28th)

Here in East Texas we also have experienced a "leveling off" of prices; and the mid-to-upper priced homes have about doubled in availability. Owners are going to have to get realistic in pricing their homes if they want to move.