2nd, buyers returning to the market with a conservative approach. The past tumultuous decade in real estate has made and broken people, families, businesses, etc. However, it has revitalized how people view what they need vs what they want. Today, buyers are focused on living within their means. While historically real estate has always been a solid investment, buyers are cautious to reluctant to push their purchase price i.e. sticking to a set payment level.
3rd, foreclosures & short sale are still happening. While incomes have not risen and people are settling for less income, short sales & foreclosures will still be part of the real estate fabric for sometime considering many are facing a negative equity position w/their home.
4th, for reason noted in point/trend 3, prices for the most part will be stagnate to soft while some neighborhoods may experience quite the opposite.