In a recent discussion with local real estate brokers, we were hashing over this question. It does seem that showing activity has increased in the past 10 days. There are still not very many contracts being written in our market place but at least the buyers seem to be jumping off the fence for a look at what's out there.
It seemed to be a general opinion that buyers believe our market is overpriced and sellers need to reduce their prices. We are seeing some price reductions come through our Multiple Listing System. I had a seller come in yesterday and reduce the price $25,000 on a property saying they are ready to sell!
It will be interesting to me to see if it sells quickly. I don't believe the sky is falling but perhaps prices are...
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