You are lucky Laramie.
A market is defined as what a willing buyer will pay and what a willing seller will agree to sell for. If the market is holding there, that's a good thing.
Home sellers may, indeed, need to be more realistic. However, the market is more complex than merely buying and selling property. Property also is leased. New homes are built.
Standard advice for sellers these days is to prepare for a shock. In some markets, even with prices down a home can sit for months. In this environment, many sellers are opting to hold on to their properties and rent them out while the market remains weak - in hopes of selling later.
Meanwhile, builders are not building at levels even approaching years past.
These are conditions for an inventory shortage. Shortages are a different situation from most of the nation.
If Laramie is like a few other parts of the country where jobs are more plentiful and foreclosures not overwhelming, the market is stabilizing. That can change, of course. But for now, it allows for stability.
Stability is a good situation for buyers and sellers. The greater trend may be to the negative the next two years, but some markets may not feel the national trend. Colorado has been unaffected by recessions in years past. Energy rich parts of the nation do not reflect the rest of the economy. These regions can get hit hard by an oil slump like the one that hit Colorado in the '80s. A better local economy is nothing to complain about.
PML of Longmont, CO