We are still seeing a slight (1%) increase in prices.  But, Louisville never had a significant boom.  Sales are off this year and seem to be getting worse each month.  I am curious to see whether we will start to see a price drop or whether sellers will pull their homes from the market.

Wow....that's a big cut. We haven't seen anything like that here yet. Hopefully we won't.

Here a lot of owners do not have the choice to take their homes off the market as most of them are upside down by as much as 40-50%. Guess its time to trade in all those fancy cars and start living within their means. I think the downward trend will end once all the owners who owe 30-40% more than their homes are worth are flushed out, all the 100% Stated "Juans Gardening Company making "10k per month" people go back to renting like they should have done all along. It really has torn our area apart as here, whole cities were built around the boom. Everyone here is affected! It'll be good once its over.