In my area, there is no much low price houses available any more

And people don't hurry to buy expensive houses. I think this is why the sales number got dropped a lot. I have a friend who has enough cash on hand still, but don't know where to put. In Bay area, I think it is not because people has no money to buy any more, it is because the cash flow got worse. A lot of people are waiting and hunting and some are just taking a break including Gu-shi and few of my friends.

It seems people only buy houses at bargain price. Mid range priced house may have a period of suffering until the economy got reasonably recovered.

Shi