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Wow those are some frightening cancellation rates.

You should see the DOM (days on market) of properties I'm looking at. 120-200 isn't unusual, and some over a year.

I tend to agree with Kass that there is more fallout to come. Which is why I'm not rushing to pay seller's prices right now, even thought they've come down some. I think better prices will be available.

And if not, I think we'll see stagnant pricing for some time.

With all the money that's required to own a house these days, renting is still not off the table either. At least until I find a property I really love!