An editorialist is changing his forecast in Orlando, Florida. "Back in February I said your house would not be worth any more by the end of the year. I am updating that to say it may be worth less. Our economy and job market is booming. These are not conditions conducive to a real-estate meltdown. There, feel better? If so, stop reading now."

"Our hot market attracted speculators. They bought up homes, bid up prices and created huge demand. Now they have reversed course and are selling. This means fewer buyers, more sellers and a glut of inventory."

The Pensacola News Journal. "With a record 6,150 houses on the market, and prices falling in many neighborhoods, the once red-hot Pensacola Bay Area housing market is trying to fight its way out of a worrisome slump. For every 400 houses that sell, another 800 go on the market."

"As a result, a preliminary estimate of the Pensacola Association of Realtors' April inventory of homes for sale shows an approximate 350 percent surge over April 2005 numbers, and by a similar amount over the 2004 figure."

"'It's a buyers' market,' Auby Smith, president of the Pensacola Association of Realtors notes. 'The good news is there are a lot more houses to choose from, and prices are not dropping that rapidly.'"

"The condominium market is a separate concern. 'The condo market is where we're really seeing a slowdown,' Al Mueller said. 'One month we're seeing 150 sales, and the next month 10. The condo market is going to be very interesting to watch.'"

"Sam Rogers, a veteran Realtor, notes that of the approximately 6,150 dwellings that were on the Pensacola area market in April, some 1,700 are condominiums. (Realtor) Joe Endry said the current condo market 'has really slowed down for the spec buyer.'"

"But he believes the condo market, like single-family homes, will bounce back. 'I've been in the beach market for 34 years,' Endry said. 'And I've seen all kinds of downturns, during the '70s, the '80s and after the 1986 tax reforms."

"Perhaps the biggest factor holding back the condo market is the weather, and the threat of future hurricanes. 'If we have another direct hit, I think we'll see a lot of people move north,' Endry said."

"And that prospect is clearly affecting sales of waterfront homes and condos. 'Anything near the water is slow right now,' Rogers said. But he is quick to add that the good thing about real estate is, 'if you hold on long enough it will always come back.'"