Currently there is less time pressure to buy which then leads to longer purchasing cycles.  Which in my opinion is good for both buyers and sellers. 

What is happening is that year over year appreciation (the true marker of the health of the marketplace) is flattening (the rate is dropping).  Now people pricing places at times are not taking that into account and utilizing an old formula assuming a higher rate of appreciation from 07' to 08' - thus creating an over-priced unit and slowing the selling speed further.  You need to differentiate the year over year appreciation number for each year to properly price.

I personally believe we will see a continued flattening of the year over year appreciation number though the year.  I don't think that we will see steep price declines in year over year pricing.

So the main things for buyers and sellers - proper pricing, utilizing comps accurately to determine proper pricing and taking a longer view of the process.