Current real estate market conditions. A buyer's market without buyers?

I don't know what the rest of your markets are going through, but I would love to create a dialogue here.  Do you feel "It's Like a Buyer's Market without Buyers?"  The phones definitely do not ring as much as they used to, but they do ring.  However, when they do ring it is to list a home that hasn't sold.  Or someone is upside down in their finances.  It tends to be a rescue mission of sorts. We are busy right now, but not swept off our feet with work.  Usually this time of the year we are gearing up for the onslaught of the spring market...starting in the early spring - buyers will start planning their home buyer strategies.  That isn't happening on any great scale.  I wish I could utter the phrase that Tony Saprano would tell Carmella, "Not now, it's the busy season!"  But I can not.  It is not the end of the world in real estate, I've been through 88.  It is the beginning of a change in the cycle of business.  It is important to reaffirm it is not ME.  That these are market conditions across the nation.  We are still closing deals, and paying the bills.  I am very grateful to be working in real estate. We have our issues, but it is great to have a career in this business even with all the changes.

A lot of real estate has been diluted in the last few years by many factors.  The biggest reason is the numbers of new agents.  It is like the piece of pie went from 8 slices per pie to 72 slices.  Our individual share has been greatly reduced.

I'd love to hear from around the nation or locally. Is it business as usual?  Is it slower?  Or from the old timers..is this 1988?  I'd love to listen to what your thoughts are.