It’s become apparent that properties are staying on the market much longer than they used to – weeks and sometimes months. But so far, prices have either dropped a little or not at all it seems, depending on where you look.

It seems to me that with more inventory on the market and properties staying out there longer, it’s natural that prices will fall eventually. It makes sense that sellers want to try as hard as possible to get the prices they used to get, but if no one bites, eventually some of them are going to have to settle for less. And then there’s interest rates and the whole ARM fiasco…

What do you think? Do you think we’re going to see a drop and how much?