I think we still have a lot of buyers who cannot wait for the market to implode and keep buying houses no matter what price they are at. This is one of the main factors that either push the price higher or steady.
The other reason is the lenders who are holding a lot of the REOs or other types of non-performing assets in order to maintain a high price market. I hope to see the lenders implode first and then the market will really cool down.
