What do you see in your housing market this weekend? More open houses? Reduced prices? Here is one from Washington, DC. "What a difference a year makes. When my husband and I bought our home in April 2005, the Washington, D.C.-area housing market was in a frenzy. We'd paraded through homes, all priced well over half a million dollars, that had cracked foundations, slanting floors, and 'slight' flooding problems."

"We'd been told that it was likely we'd lose bidding wars to folks willing to waive the home inspection contingency. In fact, we had lost bids on two other homes, even with escalation clauses that sometimes went thousands over asking price. The market around the area had been red hot for several years, long enough so that many of us forgot it could be any other way."

"But sure enough, the slow down has hit, bringing with it a record inventory of homes and a sea of sellers perplexed by their misfortune."

South Carolina. "'Buyers are starting to look for bargains,' said (broker) Bob Clarkson in Hilton Head. 'Certain sellers are becoming more desperate for a sale. This is an adjustment period from the wildest housing market we've had here in our lifetime,' said Clarkson."

In Mississippi. "Builder Dee Denton says there is a slow down in construction because of a surplus of homes up for sale. 'We have had an influx in the home-building industry of new builders starting up in this industry and putting more product out on the market,' Denton says. She says it's definitely a buyer's market."

"Some builders we talked to say they are adding special features to homes as an incentive to sell them like kitchen upgrades such as granite and stainless steel appliances. Denton says if you are planning to sell, don't worry, just be patient, it could take a little longer.'"

The Arizona Republic. "'I think it's clear we're going to continue to see an adjustment (down), but my thinking is that by the middle of next year, we ought to be at the bottom or close to it,' said valley housing analyst RL Brown."

"Installing basement shells in new subdivision has dropped about 30 percent, McDonald said, but the custom home market has yet to slow. 'I have a feeling the custom home market could soften as well, a little bit,' he said."