In the midst of horror stories throughout the country, the real estate market in Lafayette, La. is holding its own.  It is definitely a buyer's market, which is the 1^st time since Hurricane Katrina. However, because of a strong economy  in Lafayette which includes low unemployment, plentiful oilfield jobs, many medical facilities and  a state university,  The University of Louisiana at Lafayette, our market is plodding along. When comparing our stats to 1 year ago as of June,  we have 6.4 months of inventory  where as last year for  the same time period there were 3.7 months of inventory.  The average price of homes sold have only dropped 4% .  The average days on market last year was 76 days. Now the average days on market is 83. This is not at all bad compared to what other areas are experiencing.  I encourage buyers to buy now. It is a good time to buy with plenty homes on the market and interest rates are good.  The feds have recently approved the tax credit for 1^st time home buyers which makes buying now even better.  On the flip side sellers are selling their homes in a timely  manner if they are priced for the market and in good selling condition with all objections removed.  I am looking forward to reporting more stats at  the end of September.