Decius wrote:

Today’s Case-Shiller Home Price Index confirms that a softening of residential sales and prices is already under way. It is likely to accelerate over the next few quarters.

Its not over.

Of course not. Anyone who thinks otherwise has not been paying attention.

I was trying like mad to sell my house before the first time homebuyer tax credit expired. Sold in Feb. My neighbor just sold their house in June (comparable house in size, yard, style, etc) for $20k less than I sold mine. Add that to an inventory of foreclosures in the neighborhood running about the same listing prices now.