There is price protection floors at each level, just as there is with the stock market. I would be suspect of anything that closes over asking prices right now but for every 5% drop in nominal price, another group of the population qualifies for the purchase. Logically if homes are priced lower than the month before, more potential buyers exist at those levels. The incredibly difficult part is the emotional component doesn’t always follow logic, on the way up or way down. The other variable is that lending is tightening and loan programs are being phased out making it harder to figure it all out because the market has lost an unknown number of potential buyers right off the top (actually bottom), your guess is as good as mine as to how much of a percentage drop is required to recoup the number lost.
