There are 2 comments thus far. »

1. 

   Comment by Chrtstine on 22 August 2008:

   Sellers may be reducing their price but from an unrealistic starting level. So many sellers remember how much their house was worth two years ago and are slow to face the decline in value.
2. 

   Comment by Markus Azadeh on 22 August 2008:

   It’s the old real estate story, Christine: Buyers want to buy low, and sellers want to sell high. What you describe, is exactly what’s happening in many parts of the country. In fairness to sellers though, one should remember that many of them price their homes unrealistically high because they have no room for negotiation, short of ending up as a short sale candidate. Blame the equity stripping sprees, or the excesses of the last few years (which is a discussion for another day). But that’s the reality we’re in. The market will eventually balance out again.

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