The current real estate market is a Buyer's Market. This is do to the high inventory. The market is currently adjusting itself and becoming more attractive to buyers.

The market has been a buyer's market since late 2005, and prices have declined an average 10% from the peak of the market. But since early 2007 buyer traffic has increased and more homes are going under contract and selling. There are signs of a stabilization, which is giving buyers more urgency, but sellers must continue to be realistic in pricing because inventory levels are high and buyers still have a lot of choice.