Must have been that post-holiday sale that I mentioned in my comments to a reader ..

back in October 2008 as US home prices fell by a record amount in January 2009.

Closer to home in the Deep Creek market sellers haven't slashed prices to the point that a significant number of buyers have stepped in and helped move the inventory as has happened in many other parts of the country. If you've followed this blog you know that I've always felt that the Deep Creek market lags markets in the the major metro areas in the region, so looking to the DC metro market often foretells what is ahead in the Deep Creek market. Along those lines, over the last few weeks I've been touring open houses in my area and seeing that prices are generally down 30% from two or three years ago and the market is fairly hot and showing very positive signs. Maybe similar price reductions will be necessary to bring the buyers back to the Deep Creek market as well, but we'll continue to monitor the numbers for any signs of life after what was a pretty bleak February. March data coming soon!

In the meantime, I'm sure some Deep Creek real estate agent who has been dead wrong about the market for years will try his luck with another claim that the market has bottomed and it's now time to buy. Not long ago someone asked if I felt sorry for some of these guys with huge debts and dwindling commission income, after thinking about it some more I feel more sorry for the people taking advice from them without doing their homework. Even a stopped clock is right twice a day. Buyer beware.

Don't forget to check back to Dan's Deep Creek Blog for future updates.