The Northern Virginia market is ahead of most other markets.  Watch what happens in Northern Virginia and you will see trends that will likely occur in most other parts of the nation.  Right now the prices are still coming down on resales, rents are somewhat stagnant or increasing slightly and overall sales are down.  There are still many homes pent up into a bad market and they have not all washed themselves out.  We are now getting more and more management referrals because people just can't sell their home.  From a Time Value of Money standpoint, it might make more sense to rent then sell in this market.  The amount you will lose by renting over the next several years will be far lower then if you sell you home at a loss today.  Of course, it all depends on what you paid for the home and when you bought it.