Housing market tilts toward buyers

The housing market nationwide is tilting decidedly toward the advantage of buyers. Sellers are finding themselves dropping prices as housing inventories rise and times on the market lengthen. And, while few people are losing lots of money after the housing price jumps of the last several years, the market has definitely peaked. It’s only a matter now of how sharp the descent will be. more [NYT]
There are steps buyers and sellers can take to make sure they’re getting the best deal. Perhaps the first step is ignoring media coverage of trends in real estate, some say, as buyers and sellers tend to know their own situations — and their own neighborhoods — best. more [CNN/Money]