The answer would appear to be that buyers are finding it difficult to make the decision to buy! Having spoken to many potential home buyers and real estate agents about this state of affairs, it seems there is a common thread. Many people who are in a position to buy are reluctant to do so because they think home prices may decline. Some have even moved into temporary rented accommodation while they wait to "see what happens"

Home prices do appear to have declined to some extent although it would be misleading to assume that your home has lost x% of its value over the past few months. The reality is that many homes were sold for more than they should have been in recent years as prices realized were driven by a shortage of homes for sale.

If you are thinking of making a move, now is a good time to list your home for sale, provided you are prepared to do so at a realistic price. Nice homes that are priced appropriately are still selling reasonably quickly although multiple offers are unusual. Homes that are dated or need work are taking longer to sell and homes that are over-priced are just sitting on the market.

Having found a buyer for your home, you are in a strong position. For you, now is truly a great time to buy a home. Motivated sellers are likely to accept an offer well below the list price so there are some great buys to be had.