[emersonbiggins]

Emphasis mine.

$this->bbcode_second_pass_quote('', 'A')mericans Paying Less for Previously Owned Homes

By JEREMY W. PETERS
Published: October 25, 2006

Americans are paying less for previously owned homes than they were a year ago, but the number of such homes sold continues to fall.

The National Association of Realtors reported today that the average price of a previously owned home fell to $220,000 in September, down 2.2 percent from September 2005. At the same time, the pace of home sales slowed to a seasonally adjusted annual rate of 6.2 million, down 1.9 percent from August.

Sales fell even further when compared with September 2005. In the past year, existing home sales slid 14.2 percent, the realtors association said.

The new sales numbers suggest a housing market that is downshifting, but it remains unclear just how much further sales and prices will fall. Market experts are divided over whether housing is just beginning a deep and lengthy correction, or merely leveling off after several years of explosive growth.

...

“The good news is that fewer new listings are coming on line,” Thomas M. Stevens, president of the association, wrote in its statement. He predicted prices would pick back up within a few months: “A stable sales pace is expected to draw down the number of listings to a supply balance that will support positive price growth.”

[more @ NYT ]

[firestarter]

$this->bbcode_second_pass_quote('emersonbiggins', 'E')mphasis mine.

$this->bbcode_second_pass_quote('', '
')

“The good news is that fewer new listings are coming on line,” Thomas M. Stevens, president of the association, wrote in its statement. He predicted prices would pick back up within a few months: “A stable sales pace is expected to draw down the number of listings to a supply balance that will support positive price growth.”

[evilmonkeyspanker]

Home Prices are falling, making it seem like it is a buyers market...
Instead of a sellers hell

[WhipperSnapper]

I sure hope that the prices will fall because the price of housing has gone insane.