Prices are holding, inventory is dropping, but sales volume is still dropping. That means sellers are giving up selling and trying to hunker down.
In Riverside county at least, where I am tracking active inventory, sales, and % of inventory that I can afford, inventory is actually increasing. It doesn’t look like it’s increasing as quickly as it was this time last year, but it’s still definitely on a significant rise. Sales are indeed down again this month, and are at the lowest point they have been in at least two years. Prices seem to be holding, but shakily.