I am a Realtor in Southeastern Pennsylvania, and while we've seen home prices drop by about 10% on average, this has still been a great market. There are still a huge amount of people out there who need to move. We're seeing an enormous surge in first time home ownership, people "moving up", and investors purchasing homes to fix up and rent out vs. "flipping". While it may not be the best climate for sellers, homes are still selling, and home buyers still have quite a lot to choose from. In my particular area, average sale price is $200 -$250K. - Thu Jul 24 2008, 13:28