Berkemer noted:

should sales continue to improve over the next few months and the market absorbs excess resale inventory, we may be looking back at the middle part of 2008 as the market bottom.'' He said "prices will be affected not only by the number of sales but also the absorption of lower priced properties sellers can no longer afford and developers aggressively selling their already built new homes."

The typical (median) single family home for sale in the MLS today is three bedrooms, two baths, 1,931 square feet, listed at $379,500 and has been on the market for 90 days.