The realtors association has some numbers out. "Real estate gains came to an abrupt halt in the first quarter of 2006, with the median price of a U.S. home falling 3.3 percent from the fourth quarter of 2005, according to a report by the National Association of Realtors."

"Prices were basically flat or lower during the quarter as inventories of houses for sale rose and their time spent on the market lengthened. Median prices nationwide fell from $225,300 in the fourth quarter of 2005, to $217,900, a drop of 3.3 percent.'

"Many major metro areas showed slight declines, including Boston, Washington D.C. (down 2.4 percent), Los Angeles (down 0.8 percent) and Chicago (down 0.8 percent)."

"The report quoted NAR's chief economist David Lereah saying, 'With the supply of homes picking up very nicely in many areas of the country, pressure is coming off of home prices.' Lereah is optimistic that the market will soon return to growth. 'By the time we report second quarter data, I expect most areas will be returning to normal rates of price growth in the single-digit range.'"

"Existing home sales are down more than 15% in five states that have had the hottest housing markets, the National Association of Realtors said Monday. Sales were down 22.2% year-over-year in Arizona, 19.2% in California, 18.2% in the District of Columbia, 15.7% in Florida and 15% in Nevada."

"The hot markets now are New Mexico, Louisiana, Montana and Mississippi, with sales up more than 15% in each of those states."

"NAR President Thomas M. Stevens said the sales pattern is expected to level out. 'We project home sales may soften a little further before picking up in the fourth quarter.'"

"'Condos have good fundamentals given the demographics of buyers, with baby boomers focused on the high end and their kids on more affordable units. However, in a handful of areas where there may be an oversupply, prices may level-out, so the longer your time horizon the better your investment,' Stevens said."