What's going on in your housing market this weekend? Open houses? Price reductions? Here are a few observations from the press:

"Many Tampa Bay area real estate agents and builders say local new home sales began slowing this fall, and some think it's because the investors who helped launch the market into the stratosphere the past two years have gone away. (Broker) Bob Memoli said speculators built homes in the Key Vista community of southwest Pasco County with hopes of flipping them at big profits. Many, however, have been left holding the bag, thanks in part to higher interest rates and posthurricane insurance rates.'"

"'My partner and I listed one of them,' Memoli said. 'It's a beautiful house and priced right, but we just can't move it.' Tarpon Springs housing analyst Marvin Rose also cited the role of speculators. 'The common wisdom is investors are leaving the market, rapidly,' he said."

According to the Tucson Association of Realtors MLS, active listings increased by 120 percent from 3,262 in February 2005 to 7,174 last month."

"'For Sale' signs have become a common lawn fixture in Sacramento. Diane Anderson's home in North Natomas is no exception. After two years, she's ready to sell. But lately, selling your home is proving to take some patience. 'We haven't has as much traffic as we hoped for, there are still a few coming every week,' said Anderson. Despite new homes springing up at every corner, Sacramento is holding up better than the national average. 'We are glad we sold our house when we did,' said one homeowner."

"Real estate agents are forecasting a buyer's market for the next three to five years in the Santa Maria Valley. Development has outpaced the demand, giving home buyers too many choices. Agents say the market won't become competitive again until all the housing projects in the Santa Maria Valley are filled. As a result, they predict it could take eight to ten years before homeowners benefit from double digit appreciations."

"Some realtors say this may not be the right time for short-term residents to purchase a home.'A short-term deal like that, you really need to look at your costs and what you can afford to do and understand the market's gonna fluctuate and do the cyclical deal,' says realtor Jeff Gibbs."

"'There are no fire sales going on here,' said Greg Berkemer, executive vice president of the California Desert Association Realtors. 'This is not yet the classic buyer's market where people come in, low-ball the price and pick up anything they want.'"

"Analysts believe that the growing backlog of unsold homes will add to downward pressure on prices in the months ahead. ere’s how 2006 is shaping up so far compared with a year ago in the Coachella Valley. UNSOLD PROPERTIES: March 2005: 3,140, March 2006: 7,351, Change: 134 percent increase. HOMES SOLD (Jan. 1-March 20) 2005: 2,288, 2006: 1,701. Change: 26 percent decrease."

Or maybe your observation is from a letter to the editor, like this one from Florida. "OK, we get it, the house-selling market has had a big slowdown! Do we really need our favorite paper to write the bad news almost every day? Do we really want such a negative attitude for our area?"

"Those of us who have a house to sell know that the feeding frenzy of the last year is over, but we have seen many houses in our neighborhood sell for good prices too."

"Why not compare the real estate market this year to that of two years ago, when things were more 'normal' for our area. It will make all those people looking for homes feel they are making a good investment."