There are so many people who want or need to sell their homes who are still in denial that it will probably take until the end of next summer for despair and/or panic to set in for most of them. My prediction is that most will probably keep their prices too high until around the end of September before reality finally starts to settle in. Of course, NAR & CAR will still be making their inane predictions which will keep hope alive among the truly stupid and naive.
